Chris Vaz wrote:
> In 1977, Jimmy Carter, pressed by grassroots organizations, signed the
> Community
> Reinvestment Act to boost home ownership in poorer communities, by making
> home
> loans "affordable"regardless of the borrowers' ability to repay the loans..
Chris,
The collapse of the western banking system was triggered last year. It was
because mortgage lenders in California were aggressively marketing loans to
people who were not qualified. This could only happen because banking laws,
that were in place since the 1920's, were removed. You can blame Jimmy Carter
or anyone else for this years crises. The fact is that people are blaming Bush
and the person who voted 90% of the time with him.
When Bush was elected for the second time, I went long on defence and oil
stocks.
Obama's career has been focused on helping the poor in Chicago.
I can almost guarantee you that he will put into place basic health care for
all Americans while cutting on 'spreading democracy' in the Middle East.
It is the change we need.
Am shorting HMO's and defence stocks.
Mervyn3.0
BTW, if any conservative is thinking of leaving the US, welcome to Canada. We
have a conservative govt and the best banking system in the world.
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