Re: Financial topics
Posted: Tue May 24, 2016 3:57 pm
rule #7. Question motives. Twist or amplify any fact which could so taken to imply that the opponent operates out of a hidden personal agenda or other bias. This avoids discussing issues and forces the accuser on the defensive.
The CRA followed similar laws passed to reduce discrimination in the credit and housing markets including the Fair Housing Act of 1968, the Equal Credit Opportunity Act of 1974 and the Home Mortgage Disclosure Act of 1975 (HMDA). The Fair Housing Act and the Equal Credit Opportunity Act prohibit discrimination on the basis of race, sex, or other personal characteristics. The Home Mortgage Disclosure Act requires that financial institutions publicly disclose mortgage lending and application data. In contrast with those acts, the CRA seeks to ensure the provision of credit to all parts of a community, regardless of the relative wealth or poverty of a neighborhood.
Before the Act was passed, there were severe shortages of credit available to low- and moderate-income neighborhoods. https://en.wikipedia.org/wiki/Detroit_race_riot_of_1943
In their 1961 report, the U.S. Commission on Civil Rights found that African-American borrowers were often required to make higher downpayments and adopt faster repayment schedules. The commission also documented blanket refusals to lend in particular areas (redlining)
Although the CRA was signed into law by Jimmy Carter, two other important acts the Equal Credit Opportunity Act (ECOA) and the Home Mortgage Disclosure Act (HMDA) were signed by a republican, Gerald Ford. The talk show hosts also state that Bill Clinton was responsive for the expansion of CRA and forcing the banks to make bad loans. However, the two major changes in the CRA occurred in 1989 with the passage of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. Both were signed into law by George H. W. Bush. Under FIRREA, the reporting requirements of CRA compliance were expanded. The latter act required Fannie Mae and Freddie Mac to support affordable housing by purchasing CRA-qualifying loans. Even though the talk show hosts have said that up to one half of Fannie and Freddie loans were CRA loans, the act suggests that by the year 2010, that one-third of their purchases be affordable housing loans.
If you made payment to the IRS in cash it would go to the incinerator. Fiat does not exist but in closed minds and created as digital ledgers
since debt is the currency of slaves.
If there were pressures to expand CRA lending, it came in part from the banks themselves. As a result of the Riegel-Neal Interstate Banking and Branching Act of 1994, signed into law by George W. Bush, CRA ratings became an important factor in determining if banks could merge or acquire across state lines. Because advocacy groups would use CRA ratings as a protest against the banks in order to get additional CRA lending, the banks greatly expanded these types of loans. I recall going to a Fed Atlanta conference on CRA lending, compliance and enforcement. A banker told me that the Feds never pressured him into making a bad loan. However, because they wanted to expand into other states, they had instituted a more liberal CRA lending policy. So the truth is that if there is blame to be handed out for a misguided CRA policy, it has to be laid at the feet of the republicans and the banks. Jimmy Carter and Bill Clinton are convenient whipping boys and are well deserving of other blame but CRA lending is not one of them.
Dr. Black
The ACA has recently caused more damage and smirky Roberts was clear on the tax and basically how stupid taxpayers are on the journey to disaster.
Even before Rubin it was simply dead. Where the vultures circle we are warned.
What’s more, Clinton says she isn’t sure Sanders is a real Democrat.
RULE 12: Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions. (This is cruel, but very effective. Direct, personalized criticism and ridicule works.)
Clinton is not a Democrat either.
Smirky guy comment on the back door tax funnel from LITCs model was correct.
Well played indeed. Plucked chickens still eating the same feed.
ACA for the no man status of estate. The Senate has indeed hurt us deeply with this current and pointless rhetoric. These ambitious men were not naive but they were overconfident about their ability to manipulate.
Low Income Taxpayer Clinics (LITCs) The "blueprint " just as before on the sticky wages as forumed was our area also. Welcome to what we seen when we watched countless who lost half benefits and one third wages as the taxpayer blindly subsidized the blue prints of plant closing.
Locals note: They are fleeing Puerto Rico for the same reason that everyone else is - decades of dependence on US welfare has destroyed the island's economy and culture. Only criminals and the poor are seen on most streets. This is what "social programs" accomplish.
Clinton machine running out lemmings so it appears. Shall we infer some more Political Rhetoric Or Insanity?
It is developing into what we already seen coming and the sheep will be annihilated since predators seek weakness. Like we noted the Calvary is not coming since we are protecting our own now, and putting toe tags on defenseless unarmed idiots.
Suicides increasing and drug induced carnage increasing. News you never see since family works the fields to this bitter time coming and seen.
In each, the hostile question has two answers: one answer which the audience knows is morally correct, but politically
incorrect, and the other answer which the audience knows is wrong, but politically correct.
Slaves and idiot meter http://usdebtclock.org/state-debt-clock ... clock.html
