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Michael Roberts
Byrne Robotics Member
Joined: 20 April 2004
Location: United States
Posts: 14920
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| Posted: 09 November 2008 at 5:40pm | IP Logged | 1
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But it did force them to make high risk loans. Yes, they went riskier
than they should have but if it wasn't for the CRA that direction would
never have been started and never would have ended up where it did.
The CRA was the slippery slope that started it, IMO.
---
http://www.businessweek.com/investing/insights/blog/archives /2008/09/community_reinv.html
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William McCormick
Byrne Robotics Member
Joined: 26 February 2006
Posts: 3297
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| Posted: 09 November 2008 at 5:48pm | IP Logged | 2
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Thanks for the post Michael. Spells it out better than I ever could. I hadn't realized that 80% of the lending institutions that are responsible for this mess are not even subject to the CRA.
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Neil Lindholm
Byrne Robotics Member
Joined: 12 January 2005
Location: China
Posts: 4944
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| Posted: 09 November 2008 at 6:26pm | IP Logged | 3
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Knut wrote:
| Just stay clear of the Porn "parodies" of Palin that are bound to hit
the market soon (if they haven't already). Whether you're a Republican
or a Democrat you'd hate yourself in the morning. |
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Too late. "Joe the Plumber Nailin' Paylin". Hustler magazine.
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Joe Zhang
Byrne Robotics Member
Joined: 16 April 2004
Location: United States
Posts: 12842
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| Posted: 09 November 2008 at 6:28pm | IP Logged | 4
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Regarding Bush's rush to deregulate, I think that's OK. The Democrats should rush to impeach the guy too.
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Michael Penn
Byrne Robotics Member
Joined: 12 April 2006
Location: United States
Posts: 13162
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| Posted: 10 November 2008 at 6:07am | IP Logged | 5
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Link to global "Obama Wins" newspaper front pages:
http://obama2008.s3.amazonaws.com/headlines.html
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Michael Myers
Byrne Robotics Member
Joined: 28 December 2004
Posts: 831
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| Posted: 10 November 2008 at 7:27am | IP Logged | 6
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http://www.businessweek.com/investing/insights/blog/archives /2008/09/community_reinv.html
Out of curiosity, how many of you guys bought all of the "facts" of this piece?
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Joe Zhang
Byrne Robotics Member
Joined: 16 April 2004
Location: United States
Posts: 12842
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| Posted: 10 November 2008 at 7:55am | IP Logged | 7
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All of us except you, oh great one.
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Scott Richards
Byrne Robotics Member
Joined: 22 September 2005
Posts: 1258
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| Posted: 10 November 2008 at 8:14am | IP Logged | 8
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The validity of it was instantly called into question when the word "nothing" was used in the title. Only the most naive of people would believe that it had nothing to do with the current crisis. Were there other contributing factors? Yep. Lots of them. But to say the CRA had nothing to do with the current crisis is nothing short of a lie.
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William McCormick
Byrne Robotics Member
Joined: 26 February 2006
Posts: 3297
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| Posted: 10 November 2008 at 8:54am | IP Logged | 9
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All of us except you, oh great one.
*********
Please Joe, don't provoke him.
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William McCormick
Byrne Robotics Member
Joined: 26 February 2006
Posts: 3297
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| Posted: 10 November 2008 at 8:56am | IP Logged | 10
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The validity of it was instantly called into question when the word "nothing" was used in the title. Only the most naive of people would believe that it had nothing to do with the current crisis. Were there other contributing factors? Yep. Lots of them. But to say the CRA had nothing to do with the current crisis is nothing short of a lie.
***********
Equally as much of a lie as the Republican claim that it's at fault for the entire mess. And yes, I know you never made that claim Scott.
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Mark Waldman
Byrne Robotics Member
Joined: 16 August 2006
Location: United States
Posts: 1266
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| Posted: 10 November 2008 at 9:03am | IP Logged | 11
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The Republicans ran the last fumes of desperation and dirty tricks into the rocks, and it's time for them to go away, reinvent themselves and try a new approach. After 8 years of lies, violence, overspending, aggression and stupidity, the American people spoke loud and clear - ENOUGH!
They weren't buying the 2008 McCain, who is nothing more than Bush, and they weren't buying Palin, who's Bush with a vagina. If they trot that show pony out in 2012 it'll be another landslide. Luckily, the intelligently challenged hockey socialist likely will go into teleprompter reading on Fox News or someplace else to showcase that wink.
If McCain were actually a maverick at all, he would have been himself (the 2000 McCain who was disparaged and sunk by his own party is a lot different than the guy running this year), and NOT bowed to pressure and allowed the hockey stripper to be his running mate.
Also, planting a bald "plumber" and using him to speak for the everyman (most of us everymen don't make over $250k and could care less about taxes being raised for the elite) was a disaster. As was the name calling and smear campaigns while America is hemorrhaging. Just a horribly run campaign overall. Good riddance.
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Wayde Murray
Byrne Robotics Member
Joined: 14 October 2005
Location: Canada
Posts: 3115
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| Posted: 10 November 2008 at 9:10am | IP Logged | 12
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It's an unfortunate reality that for the most part politicians don't want solutions, they want issues. If a problem gets solved, you can't blame the other guy for it anymore. If the other guy gets lucky and solves a problem before you do, you can look worse than you might really be. There is also the risk that the other guy might prove more adept as solving problems than you are, and then you might as well kiss your political career goodbye.
Having issues means you can claim you'll do better than the other guy at dealing with them, even though dealing with them is down your list of things to do about them. That's not a problem as long as it's down the list of the other guy as well.
Five hundred plus pages, and we haven't had much talk about problems that have been solved. We've has lots of talk about how the other guy is more to blame for the issues that we face than our guy was, and about how our guy will be better at solving the issues than the other guy will be.
Politics is all about spin, and spinning is what you do as you go down the drain.
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Topic Closed)
