What Happened to the ACORN Investigation?

To PoliticalChic;

It is you, sir, who need your optical prescription checked. The CRA encouraged banks and other institutions to lend to poor people, notice I said encouraged, not forced. The banks, taking advantage of Reaganomics and deregulation, then made hugely unwise mortgage loans, abandoning all rules of prudent banking in the name of profit largely because they could pass those mortgages along and get their profits immediately. The banks made a bundle because nobody regulated those loans, mortgages were bundled and passed on up the line, and the banks and investment houses reaped huge profits. Alan Greenspan lately lamented that nobody knew how many of those unwise mortgages were passed on up the line, because the creed of the day was deregulation -- Reaganomics. We still don't know how many bad mortgages are out there.
That, sir, is why we are in a global meltdown. Not because of the CRA. Not because of ACORN. We are in lethal financial trouble because the bankers, those Republican, deregulated bankers, saw a windfall in making unwise loans because they could ship those mortgages out as fast as they got them.
Once again the Republicans are trying to smear a good organization, ACORN, and blame the poor people who merely wanted to own their own homes. The blame should go to the bankers and the large investment houses that saw a windfall under deregulation and gathered as much profits as they could, damn the consequences. Take responsibility for the economic problems caused by greed and by Republican policies. You sir have much to learn.
 
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To PoliticalChic;

It is you, sir, who need your optical prescription checked. The CRA encouraged banks and other institutions to lend to poor people, notice I said encouraged, not forced. The banks, taking advantage of Reaganomics and deregulation, then made hugely unwise mortgage loans, abandoning all rules of prudent banking in the name of profit largely because they could pass those mortgages along and get their profits immediately. The banks made a bundle because nobody regulated those loans, mortgages were bundled and passed on up the line, and the banks and investment houses reaped huge profits. Alan Greenspan lately lamented that nobody knew how many of those unwise mortgages were passed on up the line, because the creed of the day was deregulation -- Reaganomics. We still don't know how many bad mortgages are out there.
That, sir, is why we are in a global meltdown. Not because of the CRA. Not because of ACORN. We are in lethal financial trouble because the bankers, those Republican, deregulated bankers, saw a windfall in making unwise loans because they could ship those mortgages out as fast as they got them.
Once again the Republicans are trying to smear a good organization, ACORN, and blame the poor people who merely wanted to own their own homes. The blame should go to the bankers and the large investment houses that saw a windfall under deregulation and gathered as much profits as they could, damn the consequences. Take responsibility for the economic problems caused by greed and by Republican policies. You sir have much to learn.
chic, sir?
and you tell her she need her prescription checked
LOL
 
To PoliticalChic;

It is you, sir, who need your optical prescription checked. The CRA encouraged banks and other institutions to lend to poor people, notice I said encouraged, not forced. The banks, taking advantage of Reaganomics and deregulation, then made hugely unwise mortgage loans, abandoning all rules of prudent banking in the name of profit largely because they could pass those mortgages along and get their profits immediately. The banks made a bundle because nobody regulated those loans, mortgages were bundled and passed on up the line, and the banks and investment houses reaped huge profits. Alan Greenspan lately lamented that nobody knew how many of those unwise mortgages were passed on up the line, because the creed of the day was deregulation -- Reaganomics. We still don't know how many bad mortgages are out there.
That, sir, is why we are in a global meltdown. Not because of the CRA. Not because of ACORN. We are in lethal financial trouble because the bankers, those Republican, deregulated bankers, saw a windfall in making unwise loans because they could ship those mortgages out as fast as they got them.
Once again the Republicans are trying to smear a good organization, ACORN, and blame the poor people who merely wanted to own their own homes. The blame should go to the bankers and the large investment houses that saw a windfall under deregulation and gathered as much profits as they could, damn the consequences. Take responsibility for the economic problems caused by greed and by Republican policies. You sir have much to learn.

Mr. Magoo,

You sound like a kind-hearted man. Bless your soul, but we are not doing a good deed when we lend to people who aren't qualified to receive these loans. You have heard of NINJA loans, correct? We truly do a disservice to these people when they can't afford to buy these homes that they have been buying.

Kind regards,
PoliticalChic

P.S. And please check those glasses. I know it's hard to tell through the computer, but I am a woman.
 
Ms Chic,

Bankers are not in business do to "good deeds." They are in business to make profits, any way they legally can, and when the law is relaxed as in deregulation, they jump at the opportunity. We don't expect bankers to care about the people they lend money to if those bankers can foist those mortgages on to someone else -- which is exactly what they did.

The culprit here is Reaganomics and deregulation. The Republican policy makers in their blind devotion to a free market allowed the market to do anything they wanted to do. They either didn't know the history of the Robber Barons of the 1890s or the greed that caused the Great Depression, or they knew and chose to disregard those lessons.

But don't blame the CRA, and don't blame the poor people and ACORN as the Rove-Republicans are doing. Now that we soon will be rid of Bush and we don't have to worry about having Phil Graham as secretary of the treasury, we can hope for some sensible regulations of the financial markets.

Please accept my apologies for the gender mix-up.
 
It got swept under the rug by folks like you. Any more brilliant questions you think work for you?

Really, even if the justice department leaked information that ACORN was being investigated and the Bush administration is still in charge, me and other liberals swept it under the rug.

Not the most brilliant reply and it gets blown back in your face, Gunny.

Any more non answers that work for you?
 
Ms Chic,

Bankers are not in business do to "good deeds." They are in business to make profits, any way they legally can, and when the law is relaxed as in deregulation, they jump at the opportunity. We don't expect bankers to care about the people they lend money to if those bankers can foist those mortgages on to someone else -- which is exactly what they did.

The culprit here is Reaganomics and deregulation. The Republican policy makers in their blind devotion to a free market allowed the market to do anything they wanted to do. They either didn't know the history of the Robber Barons of the 1890s or the greed that caused the Great Depression, or they knew and chose to disregard those lessons.

But don't blame the CRA, and don't blame the poor people and ACORN as the Rove-Republicans are doing. Now that we soon will be rid of Bush and we don't have to worry about having Phil Graham as secretary of the treasury, we can hope for some sensible regulations of the financial markets.

Please accept my apologies for the gender mix-up.

But the CRA and ACORN are to blames as others:

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