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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Rose who wrote (140587)	10/8/2008 3:37:08 PM
From: jlallen	2 Recommendations Read Replies (1) \| Respond to of 173976

Poor analysis. There would have been a much more limited market for subprime loans if CRA was not used to scare banks into either originating, or buying, such loans to be held in their portfolio.... The problem was CRA and the demolib misuse of GSEs....and of course of the Repubs to police these matters or to raise the alarm much louder when their efforts to regulate abuses were blocked.... J.

To: Kevin Rose who wrote (140587)	10/8/2008 3:54:18 PM
From: geode00	1 Recommendation Respond to of 173976

Republicraps are desperate. This is the financial version of Wilie Horton. The entire point of pushing for wider home ownership and mortgage lending was to PREVENT REDLINING and other ILLEGAL practices regularly engaged in by professional bankers. They are always blaming the amateur financial person, the homeowner, for the predatory fraudulent and criminal lending practices of professional loan officers and mortgage brokers. They keep ignoring the fact that over half of subprime mortgages (heard 65%) should have been regular mortgages in the first place. They also keep ignoring the fact that Countrywide (what is left of it) is paying out $8.5 billion to address lawsuits about their fradulent lending practices. They also completely ignore the CDO-cubed fictitious, illiquid, unregulated, fradulent professional gambling engaged in by investment bankers and insurance executives. They want to blame the poor black welfare queen living in a $1 million McMansion in a white gated suburb with her 18 out of wedlock kids...it's fictitious storytelling but very real racism. Republicraps are despicable and they know it. That's why they keep throwing these nasty little tantrums.