Off-Topic: Here is personal proof NOT

Off-Topic: Here is personal proof NOT

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	Name:	architect -
	Subject:	Here is personal proof NOT
	Date:	4/3/2009 9:36:58 PM

OK water watcher I read the wikipedia post you recommended regarding thr Community Reinvestment Act (CRA):

Paragraph one and footnote: "The law (CRA) emphasizes that an institution's CRA activities are to be undertaken in a safe and sound manner and does not require any institution to make high risk loans that may bring losses to the institution." from footnote: "nor does the law require institutions to make high risk loans that jeopardize their safety. To the contrary, the law makes it clear that an institution's CRA activities should be undertaken in a safe and financially sound manner."

Now you have made numerous references to all the horror stories in this Wikipedia article. I suppose they are from "Controverses and Criticisms" section. This was a well balanced commentary. Several advocates make negative comments as to CRA and the role it played in the sub-prime fiasco. But, how did you miss the parts where other analyists make the case that the CRA was an excellent program and unrelated in any significant way to the sub-prime mess. I don't know which advocates are right but at least I am willing to read and ponder both sides.

I do hope you read far enough to get to "Legislative Changes 1999"
regarding the GRAMM-Leach-Bliley Act (aka: Financial Services Modernisation Act) which repealed the Glass-Steagall act from the 1930's which your banker friend can probably tell you was largely responsible for rescuing the banks during the Great Depression. Messers Gramm and friends tossed out the restrictions that limited the questionable merger of activities between the strongly regulated banks and mostly unregulated insurance, securities brokers, bond brokers etc. This deregulation lit the fuse.

Now, once again please give me a single verifiable example of a lender being forced by the government to make a loan to a financially unqualified borrower. They made them by the millions and the lenders went after and accepted them by the millions, but neither was being forced into their actions.

Other messages in this thread:

View Entire Thread

Intellectuals - architect - 4/1/2009 9:48:20 PM

Intellectuals? - Summer Lover - 4/1/2009 10:17:05 PM

What do you believe? - MartiniMan - 4/1/2009 10:17:21 PM

Intellectuals - DJ - 4/1/2009 10:50:24 PM

Intellectuals - rude evin - 4/1/2009 11:27:16 PM

Intelligence - Talullahhound - 4/1/2009 11:30:20 PM

Intelligence - architect - 4/2/2009 12:07:46 AM

Follow-up - architect - 4/2/2009 12:13:34 AM

Suggestion - Summer Lover - 4/2/2009 2:24:12 AM

Architect - READ - water_watcher - 4/2/2009 6:45:05 AM

Intelligence - MartiniMan - 4/2/2009 2:16:35 PM

Intellectuals - JustAGuy - 4/2/2009 2:47:41 AM

Intellectuals - architect - 4/2/2009 8:06:47 AM

Pointless debate? - Lady - 4/2/2009 8:34:28 AM

Pointless debate? - water_watcher - 4/2/2009 10:48:17 AM

Please .... - water_watcher - 4/2/2009 10:49:54 AM

I didn't think so ... - water_watcher - 4/2/2009 2:24:01 PM

I didn't think so ... - architect - 4/2/2009 2:39:06 PM

I didn't think so ... - water_watcher - 4/2/2009 3:32:02 PM

I didn't think so ... - architect - 4/2/2009 7:09:30 PM

I question it.. - alahusker - 4/2/2009 7:44:17 PM

I didn't think so ... - Summer Lover - 4/2/2009 3:45:14 PM

I didn't think so ... - Summer Lover - 4/2/2009 2:42:23 PM

Suppose - Talullahhound - 4/2/2009 5:42:02 PM

Suppose - water_watcher - 4/2/2009 7:04:16 PM

Suppose - architect - 4/2/2009 8:13:58 PM

Suppose - water_watcher - 4/2/2009 8:25:01 PM

Here you go - water_watcher - 4/2/2009 8:29:09 PM

Architect - water_watcher - 4/2/2009 8:48:32 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:52:29 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:57:17 PM

Read This - It may help - water_watcher - 4/3/2009 5:52:22 AM

Read This - It may help - architect - 4/3/2009 7:44:18 AM

Read This - It may help - water_watcher - 4/3/2009 8:24:11 AM

Here is personal proof - water_watcher - 4/3/2009 8:35:49 AM

Here is personal proof NOT - architect - 4/3/2009 5:40:39 PM

Here is personal proof NOT - water_watcher - 4/3/2009 6:25:52 PM

Here is personal proof NOT - architect - 4/3/2009 9:36:58 PM

Here is personal proof NOT - architect - 4/3/2009 9:43:55 PM

Here is personal proof NOT - water_watcher - 4/4/2009 6:09:38 AM

Here is personal proof NOT - architect - 4/4/2009 8:06:45 AM

Here is personal proof NOT - water_watcher - 4/4/2009 8:30:30 AM

One final thought - water_watcher - 4/4/2009 8:43:29 AM

Here is personal proof NOT - architect - 4/4/2009 9:02:10 AM

Here is personal proof NOT - water_watcher - 4/4/2009 6:51:02 PM

Here is personal proof NOT - architect - 4/4/2009 8:11:02 PM

I almost forgot - architect - 4/4/2009 8:40:04 PM

I almost forgot - water_watcher - 4/5/2009 7:41:55 AM

Here is personal proof NOT - water_watcher - 4/5/2009 7:44:23 AM

Other examples - architect - 4/5/2009 8:02:38 AM

Civil rights? - Talullahhound - 4/4/2009 9:41:00 PM

Civil rights? - cobra - 4/4/2009 10:05:30 PM

Other examples - architect - 4/4/2009 10:21:57 PM

I agree with some - water_watcher - 4/5/2009 8:04:56 AM

Civil rights? - water_watcher - 4/5/2009 7:47:13 AM

Give credit where credit is... - rude evin - 4/5/2009 8:42:53 AM

Give credit where credit is... - architect - 4/5/2009 9:37:09 AM

Give credit where credit is... - water_watcher - 4/5/2009 10:19:38 AM

Give credit where credit is... - architect - 4/5/2009 10:51:08 AM

Give credit where credit is... - water_watcher - 4/5/2009 11:29:52 AM

So - Talullahhound - 4/5/2009 3:22:01 PM

Give credit where credit is... - Lady - 4/5/2009 5:19:40 PM

Give credit where credit is... - rude evin - 4/5/2009 5:42:03 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:49:49 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:47:26 PM

Give credit where credit is... - rude evin - 4/5/2009 6:06:14 PM

Suppose..YOU ARE SO WRONG - water_watcher - 4/3/2009 5:33:25 AM

Suppose - Talullahhound - 4/2/2009 9:33:49 PM

Suppose - water_watcher - 4/3/2009 5:40:40 AM

Intellectuals - au67 - 4/2/2009 9:13:08 AM

Intellectuals - John boy - 4/2/2009 11:27:08 PM

Intellectuals - water_watcher - 4/3/2009 5:42:19 AM

Hey, John Boy... - Mack - 4/3/2009 8:32:39 PM

Intellectuals - AUCATZ - 4/3/2009 12:26:17 PM

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