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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (127116)	4/16/2011 6:00:54 PM
From: Nadine Carroll	5 Recommendations Read Replies (4) \| Respond to of 132070

The housing bubble, the recession and the near collapse of Wall Street could be partially blamed on many people, but the main villain was a guy named Alan Greenspan. Senator Graham and his Republicrook repeal of The Glass/Steagall Act takes a very distant second place in blame. Everyone you named were minor players when the GOP had to scramble fast to try to find some Democrats who were fellow travelers with them in trying to destroy America. The Community Reinvestment Act, passed under Carter, strengthened under Clinton, aided and abetted by the extortion techniques of ACORN and their lawyer/accomplice/patron/employer Barack Obama, had lots and lots to do with the creation of the Subprime mortgage market, a market which would never have existed in the first place had lenders been allowed to refuse loans to the uncreditworthy and had Fannie and Freddie not stepped up (with their Treasury backing) to buy the subprime loans, creating a gravy train of free money that lots and lots of players hopped onto. You conveniently forgot that part. George Bush tried to rein in Fannie and Freddie in 2005. You forgot that part too.