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Old 05-10-2011, 05:06 AM   #21
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Re: Greatness

SeaHorse II wrote:charles wroteThe banks were REQUIRED to make these loans, I repeat REQUIRED, the Fed threatened them with sanctions if they did not make low income loans. The whole mess was set to fail and you have CONGRESS to thank.
******* With all the finger pointing that has gone on about the mortgage crisis, foreclosures,

******* Freddie & Fannie, etc, anyone who paid attention over the years knows what set this

******* up. It was done by "Congress to gain votes" and now no one wants to admit it.

******* Charles is absolutely correct!

-- Edited by SeaHorse II on Saturday 7th of May 2011 09:55:58 AM

*Not only would it be illegal to denie a loan to a person that met the "more liberal guidelines".* The banks were operating under the CRA or Community Reinvestment Act that required them to invest a certain percentage of assets in economicaly distressed areas.* They were given "credit" under the CRA for making bad loans.* I hope the whole country feels better now for all this do good stuff.* A bad loan is a bad loan whether it meets guidelines or not.* It is hiprocrasy for Congress to make the guidelines then criticize banks for being forced to use them.

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Old 05-10-2011, 08:48 AM   #22
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Re: Greatness

Most people have greatness I them weather they realize it or not?* Most people have given/donated to relieve funds, cloths/books/house hold items, churches/organizations, help family/friends and strangers.* I make a point of usually having dollar bills to give help people on the street.* I do not help people that I know by choice are homeless in needed.**
We do give/help support local shelters in the area.* A lot of it is a judgment call or a tucking on the heart, and there have been time I turn around/circle the block.***My wife has gone out in the winter with a church group looking for people to give them warm cloths/hats/cloves/blankets and information about shelter and assistance in the area.*****
Many people do it in their normal daily live in careing and being open to people.*

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Old 05-11-2011, 12:09 PM   #23
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Re: Greatness

Do a GOOGLE search on NO DOCUMENTATION LOANS and you will get an eye full !

2004: House committee hearings on regulation of Freddie Mac and Fannie Mae. The statements Karl Rove made in the video above are shown as fact in this video.

Fannie Mae and Freddie Mac are US GOVERNMENT backed institutions. They are quasi-government corporations.
Franklin Raines received almost $100 million in bonus money as CEO of Fannie Mae. He received bonus for the NUMBER OF MORTAGAGES underwritten, not whether or not the mortgages were solvent or would be repayed. There is an FBI investigation into the manipulation of the bonus money.
Fannie Mae made political contributions to politicians. Sen Chris Dodd received the most from Fannie Mae. #2 was Senator Barak Hussein Obama.
Yes, this is the same Sen Chris Dodd that fillbustered the bill that Karl Rove described in the video above.
Maxine Waters: Franklin Raines "outstanding leadership"
- Actually, it has led to the government takeover of Fannie Mae.
Oct 28, 2008- And here we have Sen Chris Dodd on the radio talking about his OWN mortgage, that he received from CountryWide Mortgage Co, who issued him a SPECIAL mortgage. Dodd kept the terms SECRET. The CEO of CountryWide personally handled Dodd's mortgage package.
Tom Scott, radio hosts, accuses Dodd of mortgage FRAUD on the radio !!

The Community Reinvestment Act. GOOGLE IT !!!
This video helps explain it.


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