(11-04-2011 03:17 PM)I45owl Wrote:  

(11-03-2011 02:17 PM)Redwingtom Wrote:  Exactly, then why is it newsworthy?

At least in part, because ACORN is arguably to blame for the same things they accuse Wall Street of being responsible for.

I would LOVE for you to explain this to us!

(11-05-2011 08:44 AM)Redwingtom Wrote:  

(11-04-2011 03:17 PM)I45owl Wrote:  

(11-03-2011 02:17 PM)Redwingtom Wrote:  Exactly, then why is it newsworthy?

At least in part, because ACORN is arguably to blame for the same things they accuse Wall Street of being responsible for.

I would LOVE for you to explain this to us!

Just let it go Tom... let it go

Yeah...I know...little old ACORN made all these multi billion dollar banks give loans to homeless black folk who couldn't afford the mortgage payments and the banks buckled to their might...and that alone caused the housing bubble to burst.

Little old CORNUT didn't do it all by themselves.

Oh that's right...that fat old lispy homosexual Barney Frank made them do it.

Still bigger. But looks like you do have a grasp of the facts. If tenuous.

What's more telling is the cities with problems controlling their protesters all seem to have mayors that live up Obama's ass.

(11-05-2011 08:52 PM)Claw Wrote:  What's more telling is the cities with problems controlling their protesters all seem to have mayors that live up Obama's ass.

Bloomberg?????

You're an idiot...lol

(11-03-2011 03:29 PM)SuperFlyBCat Wrote:  Have those Acorn losers ever thought about getting a real job?

They are community organizers.

(11-05-2011 11:23 PM)Redwingtom Wrote:  

(11-05-2011 08:52 PM)Claw Wrote:  What's more telling is the cities with problems controlling their protesters all seem to have mayors that live up Obama's ass.

Bloomberg?????

You're an idiot...lol

"with problems controlling" - New York isn't on my list for that.

Try Oakland and Atlanta. Funny how those cities are having the most problems...

(11-05-2011 08:44 AM)Redwingtom Wrote:  

(11-04-2011 03:17 PM)I45owl Wrote:  

(11-03-2011 02:17 PM)Redwingtom Wrote:  Exactly, then why is it newsworthy?

At least in part, because ACORN is arguably to blame for the same things they accuse Wall Street of being responsible for.

I would LOVE for you to explain this to us!

First, ask yourself how you could make money by making loans to someone that can't pay the loan back. There are a couple of ways you could do this - (1) with something like cars that you can charge exhorbitant interest rates, repossess, and sell for the same money or more, and (2) with the help of government guarantees. If you want examples of corporate evil, look to (1) ... it's out there and is despicable. If you want #2, look for the Community Reinvestment Act as a central player in the subprime loan meltdown.

I think it is well documented that CRA cannot explain the crisis by looking at A+B=C. But, the CRA gave organizations like Acorn coercive power over banks that reached far far beyond the number of loans that may have gone through that program. You have to be horribly naive to look at a global economic crisis that results from a niche and likely unprofitable market and think that more regulation, and more social justice programs are the solution. Cue Peanut, RWT, RobertN, and UMGrad ...

Here is a debate from the Hudson Institute that I have previously posted here: The Community Reinvestment Act and the Subprime Mortgage Crisis: Is There a Connection?. [transcript]

transcript Wrote:HOWARD HUSOCK: Thank you very much. The title of this discussion, which raises the question of whether there is a connection between the Community Reinvestment Act and the current crisis, is an apt one. It would be a foolish overstatement, in my view, to assert that the CRA is somehow the cause or main cause of the current crisis. Exceptionally low interest rates, high levels of available capital, and the advent of mortgage securitization combined – it’s clear in retrospect – to spur an overinvestment in housing, an underinvestment in the sort of due diligence which once typified lending. These are huge changes in the financial industry, and I think that they must be considered the key precipitants of the current situation. But as for the question of whether the CRA is at all linked to our current problems, I would answer in the affirmative.

It’s a long way from the world of the original act to the role it played in the housing crisis, but let me try to connect the dots. At the time of the passage of the CRA, as Debby (Goldberg) alluded to, the world of banking was – as Monty Python might put it – “something completely different.” Banking was largely a local industry; indeed, interstate branch banking was not permitted.

Mortgage lending, moreover, was largely the province of thrift institutions – local savings and loans – which had a kind of a deal with the government. They would pay relatively low rates of interest to their many small depositors, but they would charge relatively low rates of interest of mortgage borrowers. This limited spread strongly discouraged risk. Combined with the lack of bank competition, it undoubtedly led many neighborhoods to lack access to credit.

The term red-lining developed to describe that situation, and it led many advocates of the poor at the time – and believe it or not, I was a young left-wing journalist at the time, and if you look at the records of the Boston Pheonix newspaper you can find an article by me called “Neighborhood in the Red” describing exactly this problem – to conclude quite plausibly that only a legislative mandate could guarantee that those of modest means living in struggling urban areas could get access to credit.

Until the Clinton administration, CRA compliance was not a difficult matter. Banks could get what amounted to an “A for effort” by advertising in certain newspapers and certain neighborhoods. But the Clinton Treasury Department changed matters a good deal through 1995 regulations requiring banks that wanted “outstanding” CRA ratings to demonstrate numerically that they were lending both in poor neighborhoods and to lower-income households.

In my view, this new era of strict enforcement was a response to conditions which no longer existed. The bank deregulation of the 1980s had put us on a road to seeing sharp competition among mortgage lenders. A paper by the Dallas Federal Reserve Bank entitled “Redlining or Red Herring?” published in 1999 put it this way: “The CRA may not be needed in today’s financial environment to ensure all segments of our economy enjoy access to credit.”4 Competition – market forces – had changed the landscape tremendously.

But the ramped-up enforcement of the Clinton administration had powerful effects, in no small part because banks were engaged in a frenzy of mergers and acquisitions, and in order to obtain the permission of regulators for these deals “outstanding” CRA ratings became coin of the realm.

And what’s more, nonprofit advocacy groups including the now very famous ACORN and the Neighborhood Assistance Corporation of America, based in Boston, came forward to demand – successfully – that banks seeking regulatory approvals commit large pools of mortgage money to them, in effect outsourcing the underwriting function to groups that viewed such loans as a matter of social justice rather than due diligence. Bruce Marks, founder and still head of the Neighborhood Assistance Corporation, told me when I visited his office in Boston in 2000, “Our job is to push the envelope.” He specified that he would use his “delegated lending authority” – that’s the term – to make loans to households with limited savings, significant debt, and poor credit histories.

The sums at the disposal of his group and others were nontrivial; when NationsBank merged with Bank of America and took the name “Bank of America,” it committed $3 billion to Bruce Marks’ group. ACORN Housing received a similar $760 million from the Bank of New York. So it is that we begin to see an indirect connection between CRA and our present troubles. Quite sizeable pools of capital began to be allocated in a new way. Rather than lending on the basis of an individual household’s demonstrated ability to repay, regulators were pushing for lending to occur on the basis of other criteria. Bank examiners at the Office of Thrift Supervision began to use federal home loan date broken down by neighborhood, income, and race to rate banks on their CRA performance. This starts to stand traditional lending on its head. The key difference? In sharp contrast to the traditional regulatory emphasis on safety and soundness, banks were now
being judged not on how their loans performed, but on how many loans they made.

I spoke to a staff member at the Neighborhood Housing Services of Chicago, Michael Traynor (ph), who put it to me this way – he was a former Harris Bank vice president: “You just had to make sure you didn’t turn anyone down. If anyone applies for a loan, it’s better just to give them the money. A high denial rate is what will get you in trouble with the regulators.” And this is from a housing advocacy group in Chicago.

RWT? Peanut? You guys called me out on this and since then have been as quiet as Joe Paterno at a NAMBLA convention. What say you?

Sorry...really busy this time of year...don't really have time to read and digest that novel.

(11-10-2011 04:52 PM)I45owl Wrote:  RWT? Peanut? You guys called me out on this and since then have been as quiet as Joe Paterno at a NAMBLA convention. What say you?

Because you were defeated by the 3rd post of the thread.

(11-10-2011 04:52 PM)I45owl Wrote:  RWT? Peanut? You guys called me out on this and since then have been as quiet as Joe Paterno at a NAMBLA convention. What say you?

(11-10-2011 05:04 PM)Redwingtom Wrote:  Sorry...really busy this time of year...don't really have time to read and digest that novel.

(11-11-2011 06:51 AM)Mr. Peanut Wrote:  Because you were defeated by the 3rd post of the thread.

god, you two are a couple of hacks.

(11-11-2011 07:09 AM)Paul M Wrote:  

(11-10-2011 04:52 PM)I45owl Wrote:  RWT? Peanut? You guys called me out on this and since then have been as quiet as Joe Paterno at a NAMBLA convention. What say you?

(11-10-2011 05:04 PM)Redwingtom Wrote:  Sorry...really busy this time of year...don't really have time to read and digest that novel.

(11-11-2011 06:51 AM)Mr. Peanut Wrote:  Because you were defeated by the 3rd post of the thread.

god, you two are a couple of hacks.

Coming from you Paul, I take that as a compliment.

And I can find you numerous novels of why and supporters of the '9/11 was an inside job' theory, but that doesn't make it so.

(11-10-2011 05:04 PM)Redwingtom Wrote:  Sorry...really busy this time of year...don't really have time to read and digest that novel.

So I can see...

http://ncaabbs.com/search.php?action=res...b71332fb05



Next time, if you don't want an answer, then don't ask the question. But, don't weasel out of the argument like this. At least Peanut is honest in expressing that he's not interested in dialog, just assertions and declaring himself victorious at every turn (what a legend...).

(11-11-2011 11:59 AM)I45owl Wrote:  

(11-10-2011 05:04 PM)Redwingtom Wrote:  Sorry...really busy this time of year...don't really have time to read and digest that novel.

So I can see...

http://ncaabbs.com/search.php?action=res...b71332fb05

Code:

Pages (20): 1 2 3 4 5 ... 20 Next »
Search Results
Post    Author    Forum    Replies    Views    Posted [asc]
          Thread: Just a question (Herman Cain-related)
Post: RE: Just a question (Herman Cain-related)
(Today 10:20 am)Rebel Wrote:   (Today 10:17 am)Redwingtom Wrote:  If absolutely NOTHING happened, why would the NRA have paid off the women? I know...to avoid a trial...but if there was ZE...
Redwingtom    The Spin Room    19    137    Today, 10:23 am
          Thread: Just a question (Herman Cain-related)
Post: RE: Just a question (Herman Cain-related)
Rebel, don't ask a serious question and then get all pissy when someone tries to answer it.
Redwingtom    The Spin Room    19    137    Today, 10:22 am
          Thread: ACORN Officials Scramble, Firing Workers... After Exposed as Players Behind OWS
Post: RE: ACORN Officials Scramble, Firing Workers... Af...
(Today 06:09 am)Paul M Wrote:   (Yesterday 03:52 pm)I45owl Wrote:  RWT? Peanut? You guys called me out on this and since then have been as quiet as Joe Paterno at a NAMBLA convention. Wh...
Redwingtom    The Spin Room    55    491    Today, 10:21 am
          Thread: Just a question (Herman Cain-related)
Post: RE: Just a question (Herman Cain-related)
If absolutely NOTHING happened, why would the NRA have paid off the women? I know...to avoid a trial...but if there was ZERO merit I'm sure it would have been thrown out of any court in a heartbeat. ...
Redwingtom    The Spin Room    19    137    Today, 10:17 am
          Thread: ACORN Officials Scramble, Firing Workers... After Exposed as Players Behind OWS
Post: RE: ACORN Officials Scramble, Firing Workers... Af...
Sorry...really busy this time of year...don't really have time to read and digest that novel.
Redwingtom    The Spin Room    55    491    Yesterday, 04:04 pm
          Thread: The so called "Personhood" amendment
Post: RE: The so called "Personhood" amendment
(Yesterday 01:31 pm)DrTorch Wrote:   (Yesterday 10:59 am)Machiavelli Wrote:  IMATY I think you will read that those 5 charcteristics will say the organism must have the ability to do th...
Redwingtom    The Spin Room    112    742    Yesterday, 01:39 pm
          Thread: Obama CAUGHT saying he doesn't like Netanyahu
Post: RE: Obama CAUGHT saying he doesn't like Netanyahu
Anyway, back to the original post on this thread. No, Obama never said or implied that he didn't like Netanyahu. And this in no way means Obama is "biased" against Israel.
Redwingtom    The Spin Room    42    405    Yesterday, 01:34 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
(Yesterday 09:54 am)DrTorch Wrote:   (Yesterday 09:09 am)Redwingtom Wrote:   (Yesterday 07:04 am)DrTorch Wrote:   (Wednesday, November 9th, 2011 01:57 pm)Redwingtom Wrote:  You gu...
Redwingtom    The Spin Room    30    298    Yesterday, 10:16 am
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
(Yesterday 09:54 am)Bull_In_Exile Wrote:   (Yesterday 02:57 am)RobertN Wrote:   (Wednesday, November 9th, 2011 05:09 pm)Bull_In_Exile Wrote:   (Wednesday, November 9th, 2011 04:49 pm)R...
Redwingtom    The Spin Room    30    298    Yesterday, 10:15 am
          Thread: House Oversight Chairman Calls for Probe into ACORN Role in Occupy Wall Street
Post: RE: House Oversight Chairman Calls for Probe into ...
(Yesterday 04:02 am)RobertN Wrote:   (Wednesday, November 9th, 2011 11:44 am)SumOfAllFears Wrote:  Paul… Simpletom cannot and will not admit or consider that his party is doing the same win...
Redwingtom    The Spin Room    9    156    Yesterday, 09:15 am
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
(Yesterday 07:04 am)DrTorch Wrote:   (Wednesday, November 9th, 2011 01:57 pm)Redwingtom Wrote:  You guys are so damned ridiculous it isn't even funny...it's really quite sad. Please show m...
Redwingtom    The Spin Room    30    298    Yesterday, 09:09 am
          Thread: Tressel to PSU?
Post: RE: Tressel to PSU?
His cheatin' ass would be a nice fit at Toledo.
Redwingtom    Mid-American Conference Talk    10    314    Yesterday, 09:07 am
          Thread: Perry implodes
Post: RE: Perry implodes
Wow! Just WOW!
Redwingtom    The Spin Room    28    313    Wednesday, November 9th, 2011, 10:14 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 06:57 pm)Owl 69/70/75 Wrote:   (Wednesday, November 9th, 2011 04:58 pm)Redwingtom Wrote:  Here...for the googley challenged: http://www.politicususa.com/en/Ob...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 09:12 pm
          Thread: Obama CAUGHT saying he doesn't like Netanyahu
Post: RE: Obama CAUGHT saying he doesn't like Netanyahu
(Wednesday, November 9th, 2011 04:12 pm)ImMoreAwesomeThanYou Wrote:   (Wednesday, November 9th, 2011 03:14 pm)HuskieFan84 Wrote:  So what? Plenty of politicians don't like Netanyahu, the g...
Redwingtom    The Spin Room    42    405    Wednesday, November 9th, 2011, 05:05 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 04:33 pm)ImMoreAwesomeThanYou Wrote:   (Wednesday, November 9th, 2011 04:30 pm)Redwingtom Wrote:   (Wednesday, November 9th, 2011 03:00 pm)ImMoreAwesomeThanYo...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 04:58 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
Some more on the story from TPM. Says something about Torchy...L-M-F-A-O! http://tpmmuckraker.talkingpointsmemo.co...ee_tax.php
Redwingtom    The Spin Room    30    298    Wednesday, November 9th, 2011, 04:49 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 03:00 pm)ImMoreAwesomeThanYou Wrote:   (Wednesday, November 9th, 2011 02:52 pm)Redwingtom Wrote:   (Wednesday, November 9th, 2011 02:16 pm)ImMoreAwesomeThanYo...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 04:30 pm
          Thread: MAC Championship Game @ Wrigley Field - Chicago, IL
Post: RE: MAC Championship Game @ Wrigley Field - Chicag...
(Wednesday, November 9th, 2011 01:49 pm)Howl-n-Prowl Wrote:   (Wednesday, November 9th, 2011 01:43 pm)Redwingtom Wrote:  The Pizza Bowl does fairly well with attendance regardless of teams....
Redwingtom    Mid-American Conference Talk    36    677    Wednesday, November 9th, 2011, 04:20 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 02:40 pm)GrayBeard Wrote:   (Wednesday, November 9th, 2011 02:39 pm)BlazerFan11 Wrote:   (Wednesday, November 9th, 2011 02:06 pm)Redwingtom Wrote:  OWS i...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 02:54 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 02:16 pm)ImMoreAwesomeThanYou Wrote:   (Wednesday, November 9th, 2011 02:06 pm)Redwingtom Wrote:  OWS is still in the "something is wrong here" stage and isn'...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 02:52 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
(Wednesday, November 9th, 2011 02:19 pm)MileHighBronco Wrote:  and you're still delusional, RWT. So what else is new? Using left wing "logic" on things that are NOT left wing doesn't really wo...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 02:48 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
(Wednesday, November 9th, 2011 02:04 pm)Bull_In_Exile Wrote:   (Wednesday, November 9th, 2011 01:57 pm)Redwingtom Wrote:  And then you fools attack the damned paper which ran the story I ci...
Redwingtom    The Spin Room    30    298    Wednesday, November 9th, 2011, 02:46 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
And one last bit for all you damned Obama haters. THIS EFFORT STARTED IN 2008 BEFORE HE WAS PRESIDENT! http://www.federalregister.gov/articles/...dures#p-14
Redwingtom    The Spin Room    30    298    Wednesday, November 9th, 2011, 02:43 pm
          Thread: This is what media doesn't show at Occupy Denver
Post: RE: This is what media doesn't show at Occupy Denv...
OWS is still in the "something is wrong here" stage and isn't quite to the "how do we fix it stage" yet. In my opinion, the Tea Party really didn't swing into gear until they united behind defeating ...
Redwingtom    The Spin Room    62    636    Wednesday, November 9th, 2011, 02:06 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
You guys are so damned ridiculous it isn't even funny...it's really quite sad. Please show me where I endorsed this program? Torch? You miserable piece of ****. And I know you're a little slow on ...
Redwingtom    The Spin Room    30    298    Wednesday, November 9th, 2011, 01:57 pm
          Thread: MAC Championship Game @ Wrigley Field - Chicago, IL
Post: RE: MAC Championship Game @ Wrigley Field - Chicag...
The Pizza Bowl does fairly well with attendance regardless of teams.
Redwingtom    Mid-American Conference Talk    36    677    Wednesday, November 9th, 2011, 01:43 pm
          Thread: Christmas tree tax
Post: RE: Christmas tree tax
Since Torch only gave you the Fox Nation treatment, here is the rest of the story: http://www.chicagotribune.com/business/c...3619.story By taxing themselves, growers will raise $2 million a yea...
Redwingtom    The Spin Room    30    298    Wednesday, November 9th, 2011, 12:42 pm
          Thread: Obama CAUGHT saying he doesn't like Netanyahu
Post: RE: Obama CAUGHT saying he doesn't like Netanyahu
Paul, the story just recently leaked and then the American press picked it up and reported it. Cripe, HuffingtonPost had it! From what I've read, the only people who heard the story were the 6 membe...
Redwingtom    The Spin Room    42    405    Wednesday, November 9th, 2011, 12:31 pm
          Thread: #OccupyHair
Post: RE: #OccupyHair
Nah, that guy doesn't quite look like a total prick.
Redwingtom    The Spin Room    15    162    Wednesday, November 9th, 2011, 11:56 am
          Thread: Obama CAUGHT saying he doesn't like Netanyahu
Post: RE: Obama CAUGHT saying he doesn't like Netanyahu
(Wednesday, November 9th, 2011 09:55 am)Paul M Wrote:   (Wednesday, November 9th, 2011 09:21 am)Redwingtom Wrote:   (Tuesday, November 8th, 2011 06:43 pm)Paul M Wrote:  And more proof ...
Redwingtom    The Spin Room    42    405    Wednesday, November 9th, 2011, 11:53 am
          Thread: Speaker Boehner: Obabba 'Shirking His Responsibilities' as Leader
Post: RE: Speaker Boehner: Obabba 'Shirking His Responsi...
That has to be the funniest thread title ever coming from Speaker Boehner, who couldn't lead a drunk conga line at a wedding.
Redwingtom    The Spin Room    17    198    Wednesday, November 9th, 2011, 11:50 am
          Thread: The official Stroh Center Rap
Post: RE: The official Stroh Center Rap
Bill FRANK? Ugh.
Redwingtom    Mid-American Conference Talk    29    1,099    Wednesday, November 9th, 2011, 11:46 am
          Thread: Obama CAUGHT saying he doesn't like Netanyahu
Post: RE: Obama CAUGHT saying he doesn't like Netanyahu
(Tuesday, November 8th, 2011 06:43 pm)Paul M Wrote:  And more proof the media are in the bag for Opie. They wouldn't report it. What media specifically?
Redwingtom    The Spin Room    42    405    Wednesday, November 9th, 2011, 09:21 am
          Thread: MAC Championship Game @ Wrigley Field - Chicago, IL
Post: RE: MAC Championship Game @ Wrigley Field - Chicag...
Personally, I believe the chosen game day is the biggest draw back to attendance more so than the location. But once again, we have sold out to the entertainment and sports network.
Redwingtom    Mid-American Conference Talk    36    677    Wednesday, November 9th, 2011, 09:08 am
          Thread: Get rid of Clawson
Post: RE: Get rid of Clawson
Brandon's regime also cost us some scholarships that we have now gotten back, so it will take a year or more for those to start bearing fruit. I think Clawson has recruited enough talent the last two...
Redwingtom    Mid-American Conference Talk    26    1,028    Wednesday, November 9th, 2011, 09:05 am

Next time, if you don't want an answer, then don't ask the question. But, don't weasel out of the argument like this. At least Peanut is honest in expressing that he's not interested in dialog, just assertions and declaring himself victorious at every turn (what a legend...).

STFU! Dude, your theory is full of ****. ACORN didn't make the banks loan the damned money and they certainly didn't deregulate them so they could play russian roulette with all the loans and crash the damned industry. Stop chasing the damned fox news and Republican party red herrings and use some damned logic. Dammit!

(11-11-2011 01:42 PM)Redwingtom Wrote:  STFU! Dude, your theory is full of ****. ACORN didn't make the banks loan the damned money and they certainly didn't deregulate them so they could play russian roulette with all the loans and crash the damned industry. Stop chasing the damned fox news and Republican party red herrings and use some damned logic. Dammit!

I'd challenge you to find anywhere wher I have ever quoted Fox news ... it may have happened, but as a matter of course, it's not likely. My quote above is from a fourm held at the Hudson Inttitute.

Beyond that, if you think that ACORNis not the least bit culpable, then tell me what is their raison d' etre, specifically in their involvement in low income housing. With reagards to this thread, the line of argument is highly relevant in the realm of capitalism and its enemies, specifically OWS. Capitalism holds accountable those who are failures, or pursue failed policies. OWS purports to attempt to do that, but what the problem is crony capitalism and politicians that make a profession of being unaccountable.

There is a clear conflict of interest with ACORN being a central player in this and a clear failure in OWS and their ilk in failing to address this.

(11-11-2011 01:42 PM)Redwingtom Wrote:  STFU! Dude, your theory is full of ****. ACORN didn't make the banks loan the damned money and they certainly didn't deregulate them so they could play russian roulette with all the loans and crash the damned industry. Stop chasing the damned fox news and Republican party red herrings and use some damned logic. Dammit!

ACORN most certainly did exert extreme pressure on the banks to loan money to people who couldn't afford either the houses or the loans, and the federal regulators did the same thing. You are lying to insist otherwise. Maybe that didn't happen in your part of the country, so I'll give you a pass to that extent, but it most certainly DID happen in many places.

As for the talking point that "deregulation" was somehow the problem, two responses. Number one, even after what you claim to be "deregulation," the financial sector continued to be the most highly regulated sector of the economy, so "deregulation" is a vast overstatement. Number two, I'll ask you the same question I've asked before--exactly what was deregulated that, had it been regulated, would have prevented the problem, and exactly what regulation would have done the job and how? I'm guessing you can't answer that question honestly or intelligently.