Posted on 07/06/2019 1:50:43 PM PDT by chief lee runamok
The CRA was passed in 1977. I think you are on to something, but I think you are saying that the CRA was a time bomb, that went off in 2007. And I don't believe that the real problem was the repeal of Glass-Steagel.
The Bush administration repeatedly testified and proposed legislation that the CRA had to be pulled back or there would be an implosion. For years. The Democrats and Barney Frank denied there was a problem and blocked all attempts at reform to avert the crash.
Frank has never been held criminally liable for what he did to our country. He was an incredibly stupid, pompous assh*le.
The federal government got their hooks in Bank of America; I believe Bank of America got the most bailout money (and leftist talking heads said at least they had the right name, since American taxpayers had subsidized them).
Here in NJ our state government did the same thing with insurance companies; if they wouldn’t sell auto insurance (fraud is so high here), they couldn’t sell other insurance either.
and when are the people at Fanny Mae and Freddy Mac, and Countrywide going to be prosecuted for that scam? The whole damn thing was ripe for a crash, and I believe Soros had a hand in facilitating the crash.
the racial wealth gap results from the basic state of inequality that blacks will not make the effort to eliminate
Cultural analysis.
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