Crime Inc.: What the 'Greening of America' Really Means

foxnews.com ^ | Wednesday, May 05, 2010 | Glenn Beck Team

[day21221]

Crime Inc.: What the 'Greening of America' Really Means

It's a safe bet that most Americans' first exposure to the concept of carbon trading or cap-and-trade legislation came during the most recent presidential campaign when both candidates advocated the need to make protecting the environment a government mandate instead of the moral obligation it's always been. In the past few months President Barack Obama has repeatedly stated that a comprehensive energy/environmental law, including cap-and-trade, is an absolute priority of his administration. Cap-and-Trade Simply put, the idea behind the cap-and-trade plan is this:

The federal government would set limits or cap the amount of pollutant a business could create. If the business chose to emit levels exceeding the cap they would have to find a business not using its full allotment and purchase the surplus from them.

[Liz]

Franklin Raines’ Letter to Shareholders——From 2003 Fannie Mae Annual Report

EXCERPT Ten years ago, for example, the typical conforming mortgage required a down payment of 10 to 20 percent, and low-down payment mortgages were considered too risky. But then we helped to standardize the 3 to 5 percent down payment loan, brought it to global capital markets, and made it available to lenders and communities nationwide. Now low-down payment loans are commonplace. And we just adopted a new variance in our underwriting standards that will make the $500 down payment loan widely available as well...

In 1994, we pledged to provide $1 trillion in capital to ten million underserved families by the end of 2000. Thanks to our housing and industry partners, we met that goal early. Then in 2000, we launched our American Dream Commitment, a pledge to provide $2 trillion in capital to 18 million underserved families by the year 2010, including $400 billion targeted specifically for minority families (later raised to $700 billion in response to President Bush’s Minority Homeownership Initiative).

After four of the strongest years in housing and mortgage finance history, we’ve already surpassed the top-line goals of this commitment. But our work is far from complete.

So in January 2004, we announced our Expanded American Dream Commitment and pledged significant new resources to tackle America’s toughest housing challenges. Our new commitment has three main goals.

First, we will expand access to homeownership for six million first-time home buyers in the next ten years, including 1.8 million minority first-time home buyers.We also will help raise the national minority homeownership rate from 49 percent to 55 percent, with the ultimate goal of closing it entirely.

Second, we will help new and long-term homeowners stay in their homes through a series of initiatives, and commit $15 billion to preserve affordable rental housing and $1.5 billion to support the revitalization of public housing communities.

Third, we will increase the supply of affordable housing and support community development activities in at least 1,000 neighborhoods across the country through our American Communities Fund, and through targeted investments like Low-Income Housing Tax Credits that help finance affordable rental housing.

It is because of initiatives like our Trillion Dollar Commitment and our American Dream Commitment that we have exceeded our HUD affordable housing goals for ten consecutive years. And we have increased our financing of mortgages to African Americans by over 400 percent and to Hispanic Americans by 470 percent in the past ten years, compared with a 205 percent increase in overall financing. Our Expanded American Dream Commitment will help us do even more.

[BOBTHENAILER]

(Did he ever return the money?)

(Did he ever return the money?)

(Did he ever return the money?)

THE QUESTION OF THE DAY!!!!!

[Liz]

Glenn Beck’s got Frankie by the scruff of his miserable neck——hope Beck reports on the $$$ Frankie stole.

[BOBTHENAILER]

You’re right—Beck is on a “roll of truth” and if he can find no repayment of the fine, it’ll be a killer for Frankie and his co-conspirators.

[Bigg Red]

Dang! If he got that chin up any higher, I suspect that Benito ObaMao would fall backwards.

[Bigg Red]

You definitely should get in touch with Beck. I have read many of your postings over the years, and I think you could help him a lot here.

[Carry_Okie]

blach

[Marine_Uncle]

So many hands in the piggy bank one can hardly list them all. And the masses of American voters remain clueless as to what is going on.

[Marine_Uncle]

Good summary Liz of a true criminal at work. Raines should be behind bars for at least a fifty years sentence for starters. He is a crook of the worst kind.

[musicman]

ping

[plangent]

ping