On Oct 7, 2008, at 10:36 AM, Mark wrote:
> > Is this one of the areas targeted by ACORN ? > http://kcet.org/socal/2008/09/foreclosure-alley.html Or this: <http://tinyurl.com/3tkt4g> Oh, and this CNN Money article from last year mentioning CRA loans as as SUBSTITUTE for the newly hard-to-get subprime loans. <http://money.cnn.com/2007/07/23/real_estate/subprime_alternatives/> Please, the whole ACORN/CRA business is republicans blaming it on the dark people as usual. Poor folks getting a home loan did not make Wall street sell the same loan five or six times. The reason we're in this fix is not poor people getting home loans they couldn't afford...after all the sum total of all the subprime loans ever made is < 10% of the bailout number, you agreed with that, Francis, remember? The law enabling thse credit-swap vehicles go on the market absent any sort of regulation can be laid DIRECTLY at the feet of Phil Gramm, because HE was the one who put that last-minute amendment into the omnibus spending bill in 1998 called the Commodity Futures Modernization Act. (which was never debated in the house or senate) It deregulated most derivatives trading, and SPECIFICALLY banned regulation of credit default swaps, in addition to the infamous "Enron Loophole". More about Phil... <http://www.cjr.org/the_audit/post_140.php?page=all> -- Bruce Johnson University of Arizona College of Pharmacy Information Technology Group Institutions do not have opinions, merely customs --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/StrataList-OT?hl=en -~----------~----~----~----~------~----~------~--~---
