Michelle Bachman on Pelosi Health Care Bill: "This Is the Crown jewel of Socialism"

@Oldtruth True.

@Oldtruth Here! Here!

During the last 10 years banks were compelled with some arm twisting by the Fed to work toward writing loans for less qualified and low or no money down home loans for individuals.
The CMA is the gift that keeps on giving...There is a bill at the House now, HR1479, "community reinvestment modernization act of 2009"...This twisted little number expands the original to include, credit unions, insurance companies, and mortgage lenders..I guess enough damage has not been done already!

The Glass-Steagall Act was implimented during the 1930's depression, the repell deregulated banking so that commercial and investment banks could merge, allowing the "to big to fail" mess we are now in...

The "community reinvestment act" (CMA) was passed during the Carter Administration, and required banks to work with community organizing groups (Acorn, SEIU....) with regard to expansion and loan opportunities.

....The sooner Americans start listening to actually people and ideas with no regard to party affiliation the sooner we may move forward to correct the sinking state of low moral standards and nefarious actions of government.

Lougalou04 -

I don't mean to come across as sounding defensive....both republicans and democrats share the blame for what has become a very corrupt system. So when someone makes a statement, "don't you feel the republicans deregulation of the banking industry....", when that actually occurred during a democrats administration, it should be a wake call for those who think all things bad happen on the other side of the isle.

Margaret Thatcher: "The trouble with Socialism is, sooner or
later you run out of other people's money."

"When you subsidize poverty and failure, you get more of both." -
James Dale Davidson, National Taxpayers Union

"The more corrupt the state, the more it legislates." - Tacitus

"A Liberal is a person who will give away everything he doesn't
own." Unknown

oh bachmann, you're a one trick pony

...unfortunately white shit kickers will constantly vote these morons into office. fear tactics, fear mongering, fear controls the right, don't let it control you

Oldtruth: You're depth of knowledge is impressive. However, being a Canadian, I'm not as familiar with these pieces of legislation. Nevertheless, your response seems to be very defensive. Didn't the bank deregulation have any bearing on the financial meltdown? I believe it had a far bigger impact on it than pieces of legislation that were made during the Clinton era (which was more than ten years ago). In essence, you seem to be making a very great stretch to make your case.

Lougalou04 -

That last post was for you
Cheers