GMA Touts Housing Non-Profit Which Lends ‘Regardless of Credit Score’

Isn’t this how we got into the mess in the first place, making mortgage loans to people who couldn’t afford them? But in its segment this morning on the stimulus, Good Morning America hailed the work of the Neighborhood Assistance Corp. of America. GMA portrayed the group simply as mortgage counselors, helping distressed homeowners work out tenable terms. But a trip to NACA’s website reveals that they are also multi-billion dollar lenders themselves, who brag of this very curious lending policy:

"Everyone gets the same incredible terms, including the below-market interest rate, regardless of their credit score or other factors."

"This isn't an idle threat. Bruce Marks is no harmless lone nut. He has a record of showing up at children's schools and bullying them because of their parents' employment. All in the name of "social justice," of course, and securing loans for every last bad risk on the face of the planet. He's so proud of his behavior, he calls himself a "bank terrorist.""

BAILOUT BULLIES
ENTITLEMENT CULTURE GONE MAD

Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve
noticed a tremendous draw down of money market accounts in the USA
to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically.
The treasury tried to help with $150 Billion.
But could not stem the tide.
It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts
they estimated that by 2 PM that afternoon.
Within 3 hours. $5.5 Trillion would have been withdrawled
and collapsed and within 24 hours the world economy."

FLASHBACK: from 9/15/08:

“U.S. President George W. Bush said Monday he is confident
that the markets are resilient and can deal with the latest financial blows.
“We are working to reduce disruptions and minimize the impact
these financial market developments on the broader economy.” ...

U.S. Democratic presidential candidate Barack Obama
said eight years of Bush “brought us the most serious financial crisis
since the Great Depression.”

His Republican rival said John McCain said he was happy the
federal government decided not to use taxpayer dollars to bail out Lehman Brothers.”

How did Obama know THEN
that we would experience the ‘most serious financial crisis since the Great Depression’
when those who did not plan the takeover would not know for three more months?

October 10, 2008, another massive selloff.

Professor Joseph Olson of Hamline University School of Law, St. Paul , Minnesota,
points out some interesting facts concerning the Presidential Election2008

* Number of States won by: Democrats: 19 Republicans: 29
* Square miles of land won by: Democrats: 580,000 Republicans: 2,427,000
* Population of counties won by: Democrats: 127 million Republicans: 143 million
* Murder rate per 100,000 residents in counties won by: Democrats: 13.2 Republicans: 2.1

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