Thread: Hey McCain, talk about the economy!

McCain needs to talk about the economy and with specific reference to our current financial melt down!

The seeds of today's financial meltdown lie in the Community Reinvestment Act - a law passed in 1977 and made riskier by unwise amendments and regulatory rulings in later decades.


CRA was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in "subprime" loans to often uncreditworthy poor and minority customers.


Any bank that wants to expand or merge with another has to show it has complied with CRA - and approval can be held up by complaints filed by groups like ACORN.


In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America's financial institutions.


Banks already overexposed by these shaky loans were pushed still further in the wrong direction when government-sponsored Fannie Mae and Freddie Mac began buying up their bad loans and offering them for sale on world markets.


Fannie and Freddie acted in response to Clinton administration pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster. _________ CLICK HERE for the full story

As we find out, the engine behind our current Fannie Freddie melt down began in the 1990’s when Madeline Talbot, a close friend and business associate of Obama, worked together with ACORN who started to use intimidating tactics to literally force banks to hand out sub prime mortgage loans to individuals who were not financially qualified to payoff these loans. The charge of “racismâ€

McCain has already admitted that he knows very little about the economy, and of course his campaign team now has decided it would be best if that issue were to take the back burner, even though that issue is at the top of the list for most Americans.
I am so disgusted I may move to Antarctica. Anyone know if the Demopenguin or the Republipenguin is ahead in that race?

If Obama is elected, expect him to relax our borders and allow millions upon millions of foreigners to flood into our country which will then create an irreversible voting majority for the Democrat Socialist Party to remain in power.

You have been warned. Keep the warning in mind when you go to vote!

I'm not saying I approve of GWB's policies that much, but his term has seen general economic growth until the last year. Do people think the markets never correct? Anyone who has lived a while knows that they do. Republican debaters should at least point that former fact out. Of course Obama's youngish cadres don't realize that life isn't always perfect. Not that you could explain that to them.

Obama's campaign has occurred at just the right time to take advantage of a bad situation.

Originally Posted by johnwk

If Obama is elected, expect him to relax our borders and allow millions upon millions of foreigners to flood into our country which will then create an irreversible voting majority for the Democrat Socialist Party to remain in power.

You have been warned. Keep the warning in mind when you go to vote!

Yes indeed. Better get busy and work for some conservative Congresional candidates==either party. We're doomed, otherwise.