gsvol
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The mortgage crisis is a problem created in Washington long ago. It originated with the Community Reinvestment Act (CRA), signed into law in 1977 by President Jimmy Carter. The CRA was Carter's answer to a grassroots activist movement started in Chicago, and forced banks to make loans to low income, high risk customers. PhD economist and former Texas Senator Phil Gramm called it "a vast extortion scheme against the nation's banks."
Ironically, an enthusiastic Fannie Mae Foundation report singled out one paragon of nondiscriminatory lending, which worked with community activists and followed "the most flexible underwriting criteria permitted." That lender's $1 billion commitment to low-income loans in 1992 had grown to $80 billion by 1999 and $600 billion by early 2003.
Remember it was Barack Obamas neighbor, the Rainbow Coalition in Chicago, run by Jesse Jackson that forced private lenders to make risky loans. The lender they were speaking of was Countrywide, which specialized in subprime lending and had a working relationship with ACORN who was represented by Barack Hussein Obama.
ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining.
Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the Community Reinvestment Act and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.
Dont expect to read about this in the "mainstream media," however, which generally views groups like ACORN as heroic champions of the poor, laws like the CRA as anti-discrimination laws, and places all of the blame for the subprime mortgage meltdown on greedy capitalists, especially mortgage brokers.
The Cloward-Piven Strategy of Orchestrated Crisis.
One of two things must be true. Either the Democrats are unfathomable idiots, who ignorantly pursue ever more destructive policies despite decades of contrary evidence, or they understand the consequences of their actions and relentlessly carry on anyway because they somehow benefit.
First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and Frances Fox Piven, the Cloward-Piven Strategy seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.
Cloward and Piven were inspired by Saul Alinski who also was a guiding light for Hillary Clinton and Barack Obama, among others.
ACORN's voter rights tactics follow the Cloward-Piven Strategy:
* 1. Register as many Democrat voters as possible, legal or otherwise and help them vote, multiple times if possible.
* 2. Overwhelm the system with fraudulent registrations using multiple entries of the same name, names of deceased, random names from the phone book, even contrived names.
* 3. Make the system difficult to police by lobbying for minimal identification standards.
Conspicuous in their absence are any connections at all with any other group, moderate, or even mildly leftist.
They are all radicals, firmly bedded in the anti-American, communist, socialist, radical leftist mesh.
Ironically, an enthusiastic Fannie Mae Foundation report singled out one paragon of nondiscriminatory lending, which worked with community activists and followed "the most flexible underwriting criteria permitted." That lender's $1 billion commitment to low-income loans in 1992 had grown to $80 billion by 1999 and $600 billion by early 2003.
Remember it was Barack Obamas neighbor, the Rainbow Coalition in Chicago, run by Jesse Jackson that forced private lenders to make risky loans. The lender they were speaking of was Countrywide, which specialized in subprime lending and had a working relationship with ACORN who was represented by Barack Hussein Obama.
ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining.
Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the Community Reinvestment Act and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.
Dont expect to read about this in the "mainstream media," however, which generally views groups like ACORN as heroic champions of the poor, laws like the CRA as anti-discrimination laws, and places all of the blame for the subprime mortgage meltdown on greedy capitalists, especially mortgage brokers.
The Cloward-Piven Strategy of Orchestrated Crisis.
One of two things must be true. Either the Democrats are unfathomable idiots, who ignorantly pursue ever more destructive policies despite decades of contrary evidence, or they understand the consequences of their actions and relentlessly carry on anyway because they somehow benefit.
First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and Frances Fox Piven, the Cloward-Piven Strategy seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.
Cloward and Piven were inspired by Saul Alinski who also was a guiding light for Hillary Clinton and Barack Obama, among others.
ACORN's voter rights tactics follow the Cloward-Piven Strategy:
* 1. Register as many Democrat voters as possible, legal or otherwise and help them vote, multiple times if possible.
* 2. Overwhelm the system with fraudulent registrations using multiple entries of the same name, names of deceased, random names from the phone book, even contrived names.
* 3. Make the system difficult to police by lobbying for minimal identification standards.
Conspicuous in their absence are any connections at all with any other group, moderate, or even mildly leftist.
They are all radicals, firmly bedded in the anti-American, communist, socialist, radical leftist mesh.
