Get these people!

They are very, very bad news!

Thanks, zombie and Charles!

I think these folks need to be the center of an investigative interview. Let's find out what their role is.

"Community Organizers" = Brown Shirts, muck rakers, rabble rousers, etc etc

The Greenlining Institute has blackmailed the philanthropic community into more "diverse" granting. Which, btw, is nonsense, if you look at any foundation's 990.

What they did to the banks is just the beginning.

I'm glad that there is much more knowledgeable people than me digging into this mess.
I keep hearing about 'mark to market' and have no clue what that means.

You git'm zombie.

Wow. Good questions Zombie. I wonder if they have some connections to BHO?

Ooooh. Thank you Charles! Michelle also linked. Let the traffic-lanche commence!

They are crazy but patient conspiracy theorists who work to rot out the capitalist base of America, Obama is an acolyte of the same church. It is their very insanity that protects them from exposure.

Shine the light of day on these goups!

Americans deserve to know the truth.

Their are more facts an journalism in in one Zombie paragraph then in the entire DB-CBS Evening news.

Here's an interesting tidbit regarding the Greenlining Institute and Merrill Lynch from 2000. Yes, the same Merrill Lynch that was bought out by Bank of America.

Merrill Lynch, Greenlining Institute Announce New $159 Million Economic Partnership for Southern California , San Francisco Bay Area

"In 1996, Merrill Lynch became the first investment bank in the nation to develop an underserved community investment partnership with local community groups," said John Gamboa, Executive Director of The Greenlining Institute. "Today, they have achieved another historic first: the first investment bank to develop a California-wide small business strategy for ethnically diverse communities. Greenlining's philosophy is that all corporations can find profitable ways to do business in historically underserved areas. With top-level commitment, including the CEO, Merrill Lynch is proof that it can be done."

In Southern California, the new initiative expands to include Riverside, Ventura and San Bernardino counties, as well as offering the expanded business lending to the San Diego area. In the Bay area, the program will include the San Francisco, San Jose and Oakland metro areas.

"Despite advances in the last 10 years, some groups still do not have access to the financial resources they need to thrive economically," said Paul W. Critchlow, Merrill Lynch Senior Vice President for Communications and Public Affairs. "Using education, outreach and the capital to back those efforts up, Merrill Lynch is encouraging entrepreneurship and economic empowerment in these areas."

Peter P. Case, the senior Merrill Lynch executive responsible for the California Partnership for Economic Achievement, said: "Merrill Lynch is proud of the comprehensive commitment we've made to these communities — commitment that spans from charitable support of organizations to providing the financial capabilities for economic empowerment. The key has been - and will continue to be - working with established grass-roots organizations to identify and meet the financial needs of these communities. We used targeted investments and initiatives to promote home ownership and address the housing crisis that exists in many areas."

And there's more.

Well, we've overwhelmed the canadianfreepress web site already...

re: #6 CyanSnowHawk

Wow. Good questions Zombie. I wonder if they have some connections to BHO?

I haven't seen any direct ones, but the local branch of ACORN approves of GI.

You know how this is going to play out..
You, we, everyone, and anyone looking into community organizers are racists.
Get this bailout going and lets get this ball rolling again. There's much work to be done to make it all fair.

Community Organizing at its highest levels.
Many thanks to Mr obama and his fellow organizers.

re: #4 Dianna

The Greenlining Institute has blackmailed the philanthropic community into more "diverse" granting. Which, btw, is nonsense, if you look at any foundation's 990.

What they did to the banks is just the beginning.

They are actually quite terrifying.

Look at comment #18 in my posting. Someone provides evidence that the California Public Utilities Commission pays Greenlining $450 to wreak havoc on the California state economy. WE are funding them! Sheer insanity.

WORD
Zombie might want to be cautious photographing.
Lower right hand window reflection.
This one is too pixelated to smooth out, if the image is who I think it is.

Add the Mark-to-Market rules atop the CRA and you have the causes for most of the current financial panic. This crisis can be laid squarely at the feet of the left wing of the Democrat party. This wasn't a Wall Street problem.

I keep reading Greenlining as Greenlings.

re: #5 newsjunkie_ky

I'm glad that there is much more knowledgeable people than me digging into this mess.
I keep hearing about 'mark to market' and have no clue what that means.

You git'm zombie.

Actually, I'm not knowledgeable at all about this -- I just linked to other people's articles! (Which I rarely do.) I wish I had time for a full-strength investigation, but at the moment I'm way too busy. I just wanted to draw attention to the issue!

I hope Zombie has some very powerful little undead hamsters.

The crisis came on us when the amount of bad lending reached critical mass. CRA got the ball rolling, but it's not the sheer quantity of bad loans to unqualified minorities that got us here.

The banks had to ask for regulatory permission to write loans that would normally count as imprudent. They got it, because to have refused permission would have been an impediment to affirmative action lending.

But after the change, it wasn't just minorities who could qualify for loans they had no chance to repay. It was everybody. And if not everybody borrowed on those terms, a critical mass of non-minority borrowers did. Whitey isn't off the hook on this one.

Today's fiscal mushroom cloud is the result of removing the control rods from the pile. Barney Franks and pals insisted on it because they wanted homeownership for all, not just those with two dimes to rub together. But the motive isn't the cause, exactly. The cause is that everybody and his uncle got drunk at this credit-for-all party.

re: #6 CyanSnowHawk

Wow. Good questions Zombie. I wonder if they have some connections to BHO?

I'm quite certain they support him, but beyond that -- I doubt it.

re: #19 CyanSnowHawk

I keep reading Greenlining as Greenlings.

That's funny, but I keep reading it as "Red Menace"?

re: #18 Son of the Black Dog

Add the Mark-to-Market rules atop the CRA and you have the causes for most of the current financial panic. This crisis can be laid squarely at the feet of the left wing of the Democrat party. This wasn't a Wall Street problem.

but.. Didn't Nancy say it was Bush's economic policies that were cause.. that's enough for me.
/

Blow up a car, you get special forces kicking in your door.

Blow up the economy, get a nice fat juicy paycheck.

Some more about the Greenlining Institute, this time with PG&E:

PG&E, Greenlining Institute Form 21st Century Leadership Partnership

Pacific Gas and Electric Company and the Greenlining Institute announced today that they have established a partnership agreement to ensure that low-income and minority customers are fully included in PG&E's programs to help restructure the electric industry in California over the next 10 years.

This was in 1996, before California's electricity problems began.

re: #22 lostlakehiker

Excellent analysis.

re: #11 Honorary Yooper

Here's an interesting tidbit regarding the Greenlining Institute and Merrill Lynch from 2000. Yes, the same Merrill Lynch that was bought out by Bank of America.

Merrill Lynch, Greenlining Institute Announce New $159 Million Economic Partnership for Southern California , San Francisco Bay Area

And there's more.

Can you guess the one bank which was MOST "responsive" to Greenlining's pressure, and which had the highest rating from Greenlining's rating squad? The one bank that loaned the most to "underqualified minority borrowers"?

Countrywide.

Think about it.

re: #20 zombie

Actually, I'm not knowledgeable at all about this -- I just linked to other people's articles! (Which I rarely do.) I wish I had time for a full-strength investigation, but at the moment I'm way too busy. I just wanted to draw attention to the issue!

That's what I mean. You can find those links and compile them together to focus one on the issue.
Bet there won't be an msm stampede to investigate.
So thanks.

re: #14 unrealizedviewpoint

You know how this is going to play out..
You, we, everyone, and anyone looking into community organizers are racists.
Get this bailout going and lets get this ball rolling again. There's much work to be done to make it all fair.

Yes. That is their #1 and only strategy: to accuse anyone who questions their motives and tactics as being racists. If they even bother to take note of my post, I guarantee that will be their line of attack.

I remember going for a mortgage years back & being treated a cut above a felon,employment records, tax returns, credit reports, mothers hat size.

The principal usually workls that if someone gets a sweetheart deal, someone else gets the bill. The invoice has arived for payment due.

Soros => Acorn => Obama => Greenlight in SF or Open Families in NY, it is made deliberately convoluted and improbable, partly to protect the "plausible deniability" of those at the top. It is like a Leninist cell system writ large. Most of the useful idiot foot soldiers have no idea what they are doing.

pays Greenlining $450 to wreak havoc = pays Greenlining $450/hour to wreak havoc

PIMF

re: #18 Son of the Black Dog

This wasn't a Wall Street problem.

I'm not going to give many of the Street a full pass though - if one looks at the actions of the leadership of Fannie / Freddie as well as some of the other financial companies that failed or are in trouble - they had no hesitation to cut any and every corner including falsifying books in order to present an economic picture contrary to the actual conditions at those organizations.

There is a fundamental problem with Boards of Directors being those who aren't exercising a fiduciary responsibility to represent the shareholders - but to rubber stamp the CEO. This leads to people misrepresenting numbers in order to collect bonuses.

One can make a case that they only locked onto this circle / cycle because of the intent to continue to show profits / growth regardless of the risk.

If there are doubts around the partnership between the Street and the Dems - just look at the campaign contributions.

Dammit
its all Bush's fault
now pass the damn bailout before anyone really finds out what is going on.

But its already starting to leak

Lots of people went to school on Professor Jesse Jackson's actions.

re: #29 zombie

Can you guess the one bank which was MOST "responsive" to Greenlining's pressure, and which had the highest rating from Greenlining's rating squad? The one bank that loaned the most to "underqualified minority borrowers"?

Countrywide.

Think about it.

I do think about it. Every month when I write my mortgage check to them. (Now BofA, but the check is still made out to Countrywide.)

re: #17 jwb7605

WORD
Zombie might want to be cautious photographing.
Lower right hand window reflection.
This one is too pixelated to smooth out, if the image is who I think it is.

It ain't me, babe.

Nothing to worry about!

This video is worth reposting here:Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam

re: #31 zombie

Yes. That is their #1 and only strategy: to accuse anyone who questions their motives and tactics as being racists. If they even bother to take note of my post, I guarantee that will be their line of attack.

I dont think you're racist. I think you are 'livingist" out to get the living, breathing, human beings. As an undead, you have no race, no sex, no nothing.

Greenlining brags that they have unparalleled access to banking boardrooms, and they successfully squeezed $2.4 trillion (yes, trillion) in “CRA commitments” (i.e. loans to unqualified borrowers) out of terrified banks.

Sweet jumped-up Ganesh on a pogo stick.

Has anyone considered hitting these places with RICO violations?

From the Berkeley Daily Planet:

Greenlining Institute Looks to Redraw Political Landscape

With a $4 million annual endowment, Greenlining’s interests are larger than Berkeley, stretching from Sacramento to Washington, DC. Started in 1994 by John Gamboa, a co-founder of the consumer interest law firm Public Advocates, and backed by minority business associations, the institute has fought to extend the benefits of capitalism to inner-city neighborhoods that had been traditionally cut off from access to business and home loans.

“Making the unbanked bankable has always been a top objective,” Turner said.

To persuade banks to serve inner-city clients, the institute has opposed high-profile bank mergers, threatening to demand hearings before the Federal Reserve Board if the bank didn’t agree to invest more in inner cities.

Under pressure from Greenlining, Wells Fargo committed $45 billion to community lending and $300 million to philanthropic causes as part of its 1996 acquisition of Los Angeles-based First Interstate Bank. Washington Mutual, also hounded by Greenlining, agreed to provide $120 million in community lending as part of its 2001 merger with Bank United. Similar concessions have been squeezed out of insurance and utility companies. Greenlining issues annual report cards tracking the institutions’ progress in hiring minorities and serving minority communities.

Magavern thinks Greenlining’s environmental policies are rooted in the interests of key donors. “Look at who they take money from,” he said. “Part of their modus operandi is to threaten people until they get paid. We’ve never given them money so that is one of the problems they have with us.”

Tracking down Greenlining’s major contributors isn’t simple. The names of major donors are whited-out on the organization’s federal tax forms. The omission was news to Turner, he said.

He said that corporations accounted for about one-third of the institute’s revenues. The rest, he said, comes from foundation grants and fees from intervening on behalf of the public before the state Public Utilities Commission.

Greenlining faxed the Daily Planet its 2002 tax returns, which listed four contributions, including $250,000 from Washington Mutual, $300,000 from Wells Fargo, $450,000 from the California Endowment, and $1.67 million from the Frente Foundation, a Latino charitable organization.

This was written back in 2005.

Has anybody read that 451 page monster?
Jesse hasn't done real good for anybody. He is an earlier better dressed and thinner version of Al Sharpton.

re: #33 lifeofthemind

Soros => Acorn => Obama => Greenlight in SF or Open Families in NY, it is made deliberately convoluted and improbable, partly to protect the "plausible deniability" of those at the top. It is like a Leninist cell system writ large. Most of the useful idiot foot soldiers have no idea what they are doing.

Had to give you a big up-ding for that one! Spot on.

re: #16 zombie

Comment #18 is quite correct.

re: #17 jwb7605

WORD
Zombie might want to be cautious photographing.
Lower right hand window reflection.
This one is too pixelated to smooth out, if the image is who I think it is.

Don't worry, that's just Bob.

re: #26 Kragar (Proud to be Kafir)

Blow up a car, you get special forces kicking in your door.

Blow up the economy, get a nice fat juicy paycheck.

Bomb the Pentagon, get your political protoge into the White House.

re: #22 lostlakehiker

The crisis came on us when the amount of bad lending reached critical mass. CRA got the ball rolling, but it's not the sheer quantity of bad loans to unqualified minorities that got us here.

The banks had to ask for regulatory permission to write loans that would normally count as imprudent. They got it, because to have refused permission would have been an impediment to affirmative action lending.

But after the change, it wasn't just minorities who could qualify for loans they had no chance to repay. It was everybody. And if not everybody borrowed on those terms, a critical mass of non-minority borrowers did. Whitey isn't off the hook on this one.

Today's fiscal mushroom cloud is the result of removing the control rods from the pile. Barney Franks and pals insisted on it because they wanted homeownership for all, not just those with two dimes to rub together. But the motive isn't the cause, exactly. The cause is that everybody and his uncle got drunk at this credit-for-all party.

Good point... I wonder how much of the bad paper was generated by "flippers" who simply defaulted on their multiple mortgages and walked away from their unflipped homes once the market for them became cold?

Government regulations #1 product with a bullet = unintended consequences.

re: #39 zombie

It ain't me, babe.

Nothing to worry about!

Good. Just wanted your six covered.

re: #33 lifeofthemind

Soros => Acorn => Obama => Greenlight in SF or Open Families in NY, it is made deliberately convoluted and improbable, partly to protect the "plausible deniability" of those at the top. It is like a Leninist cell system writ large. Most of the useful idiot foot soldiers have no idea what they are doing.

Exactly.
But it makes them feel good about themselves - and thats all that matters.

re: #22 lostlakehiker

But after the change, it wasn't just minorities who could qualify for loans they had no chance to repay.

Here's more of that same mentality. Oprah Winfrey's mom (!) is counter suing this store, that she purchased $155K worth of clothes. She said

Valentina took advantage of her "lack of knowledge, ability, and-or capacity" when creating her credit account.

These people who want stuff they never have any intention on paying for amazed me.

Link

re: #45 Honorary Yooper

From the Berkeley Daily Planet:

Greenlining Institute Looks to Redraw Political Landscape

This was written back in 2005.

Fantiastic. I will update the post with that, right now, with a hat tip to you.

re: #47 zombie

Had to give you a big up-ding for that one! Spot on.

Thanks zombie, wish I had the excuse and the finances to go to SF and get more at Red Blossom Tea.

re: #44 anotherindyfilmguy

Has anyone considered hitting these places with RICO violations?

During the Clinton administration, he had Janet Reno and her goons forcing banks to make these loans even worse than these guys are....this is one of the "planks" of the new left. Why let a little thing like reality or capitalism put a dent in your tunnel visioned world view. Blame the rich fat cats all you want, they share some of this blame, but you have to look at the mindset of the people and groups that pushed this type of loaning in the first place. As usual, the goals are noble, the methods are madness, and the consequences, of course, are unintended (or were they?)

re: #45 Honorary Yooper

From your quote:

the institute has fought to extend the benefits of capitalism to inner-city neighborhoods that had been traditionally cut off from access to business and home loans

How do you say "taqqiya" in Berkeleyese? Shakedowns = "extending the benefits of capitalism"... right.

re: #44 anotherindyfilmguy

Has anyone considered hitting these places with RICO violations?

I'm sure they've violated lots of people, not just Puerto Ricans.
/

This Greenlining business model is probably based on lefty math that makes these people feel like a bunch of robinhoods robbing the rich to feed the poor. In reality, they're affirmative action beggars whose actions over the long term will hurt the very people they sought to help out. In a severe recession, all may suffer and the richest may lose their sailboats but its the poor who'll most likely lose food & housing. And lets not forget the implications of reverse racism and their anti-capitalism approach.
And seeking financial help on the basis of the color of one's skin is just Un-American.

OT: I've just been chatting with my insane moonbat friend. Here are some observations/excerpts;

1) He thinks the homeless should be able to vote
2) He thinks felons should be able to vote
3) He approves of Obama's illegal campaign donations
4) He approves of Obama's truth squad in Missouri
5) He feels great about the Dems having to lie, cheat and steal their way into power
6) He knows next to nothing about Obama's, Frank's, Dodd's, etc. connections to Fannie and Freddie
7) He thinks it's great that Gwen Ifill will be the massively biased moderator tomorrow evening.

That's it for my fieldwork now, stay tuned for the next installment of Wild Moonbat Kingdom.

re: #59 BeerDrinking_VictoryMonkey

I'm sure they've violated lots of people, not just Puerto Ricans.
/

Ummmm... Nevermind.

/a phrase oft used with my teenagers ;-)

re: #35 Athos

I'm not going to give many of the Street a full pass though - if one looks at the actions of the leadership of Fannie / Freddie ...

I don't consider Fannie and Freddie to be part of Wall Street.

re: #54 Lively

Lee filed a counterclaim Friday contending that Valentina took advantage of her "lack of knowledge, ability, and-or capacity" when creating her credit account.

So the store was responsible for helping Oprah's mom plan her finances?!

Madness.

re: #61 JSK1121

The homeless can vote. You no longer have to be a land owner to vote.

re: #61 JSK1121

OT: I've just been chatting with my insane moonbat friend. Here are some observations/excerpts;

1) He thinks the homeless should be able to vote
2) He thinks felons should be able to vote
3) He approves of Obama's illegal campaign donations
4) He approves of Obama's truth squad in Missouri
5) He feels great about the Dems having to lie, cheat and steal their way into power
6) He knows next to nothing about Obama's, Frank's, Dodd's, etc. connections to Fannie and Freddie
7) He thinks it's great that Gwen Ifill will be the massively biased moderator tomorrow evening.

That's it for my fieldwork now, stay tuned for the next installment of Wild Moonbat Kingdom.

Just keep reminding them to show up and vote on November 5th.

re: #63 Son of the Black Dog

I don't consider Fannie and Freddie to be part of Wall Street.

Me, neither; Fannie is HQ'd right up yonder on Wisconsin Avenue. (But Athos did mention "other financial companies", in fairness.)

From another article:
snip

But the bank-haters -- including activist groups like ACORN, the Greenlining Institute, and National Community Reinvestment Coalition, whose collective raison d'etre lies in the supposed market failure of the mortgage lending industry -- don't see all this as an advance at all. With HUD oversight, they pressure Fannie and Freddie not to purchase sub-prime loans, which are denounced as "predatory." They have pushed a wave of "anti-predatory" lending legislation through state legislatures, based in such vague criteria that rating agencies, fearful of potential liability, have said they can't rate the risk of mortgage bonds which include sub-prime loans.

extortion
the gaining of property or money by almost any kind of force, or threat of 1) violence, 2) property damage, 3) harm to reputation, or 4) unfavorable government action. While usually viewed as a form of theft/larceny, extortion differs from robbery in that the threat in question does not pose an imminent physical danger to the victim.

re: #65 Lively

The homeless can vote. You no longer have to be a land owner to vote.

They can? Whoops. Well he's crazy on the other 6 points.

re: #70 JSK1121

They do need to register, etc.

re: #55 zombie

Have a look at the San Jose Mercury News a few months back.

re: #45 Honorary Yooper

From the Berkeley Daily Planet:

Greenlining Institute Looks to Redraw Political Landscape

This was written back in 2005.

OK, I've updated the post, and included a hat tip to you at the end!

Slightly OT, but slightly not:

Obama's campaign contributions under scrutiny

Shell games going on all over, it seems.

OT: crappy news being trumpeted right now by the MSM, as great new October 1st poll numbers are now coming out of vital swing states Florida, Ohio, and Pennsylvania from Quinnipiac, all are now over 50% for Obama. Anyone have historical or background perspective on the reliability of this polling institute?

re: #51 DaddyG

I wonder how much of the bad paper was generated by "flippers" who simply defaulted on their multiple mortgages and walked away from their unflipped homes once the market for them became cold?

It's apparently endemic in among the Democrats - a Democrat Congresswoman from CA sees no issues with abusing the system.

And this wasn't just a one-time 'mistake' on the part of the Congresswoman - She has a history of doing this...and the responsibility for this is also not hers.....but on the lenders.

With very few exceptions, the real story and real scandal around the foundation of this financial crisis is being covered up by the perpetrators (Dodd, Franks) and the MSM.

re: #60 zato

This Greenlining business model is probably based on lefty math that makes these people feel like a bunch of robinhoods robbing the rich to feed the poor. In reality, they're affirmative action beggars whose actions over the long term will hurt the very people they sought to help out. In a severe recession, all may suffer and the richest may lose their sailboats but its the poor who'll most likely lose food & housing. And lets not forget the implications of reverse racism and their anti-capitalism approach.
And seeking financial help on the basis of the color of one's skin is just Un-American.

These people care nothing about helping individuals. They are Marxist idologs who simply want capitalism to take a big dump and they don't care who gets hurt along the way.

re: #45 Honorary Yooper

and $1.67 million from the Frente Foundation, a Latino charitable organization

I think the Frente Foundation is a front!

/

(or it might be a forehead?)

re: #61 JSK1121

Yikes. I hope your friend has some other sterling qualities that make up for his amorality.

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

re: #72 Dianna

Have a look at the San Jose Mercury News a few months back.

I need a direct link! I'm out of time!

re: #63 Son of the Black Dog

I can see that point, except they are the ones that packaged these debt instruments for the Street and enjoyed the support of the Street - Lehmann, Merrill, the big banks, etc. They might not be based on the Street, but they are connected to it.

re: #80 FrogMarch

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

They've bought a lot of the BS that he has said thusfar......

re: #68 redstateredneck

They have pushed a wave of "anti-predatory" lending legislation through state legislatures, based in such vague criteria that rating agencies, fearful of potential liability, have said they can't rate the risk of mortgage bonds which include sub-prime loans.

That is HUGE.

If these bonds had been adequately rated to begin with, we wouldn't be in this mess.

Thanks, lefties!

The ethic in the Bay Area goes back to tolerating the idea that wealth is illegitimate and temporary until redistributed. Maybe it goes back to a feeling it was stolen from the Spanish or dug out of the gold beds by dumb luck. This started long before the Symbionese Liberation Army and Patty Hearst.

re: #80 FrogMarch

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

We'll find out in a month.

The American Thinker has a fairly sized article today on the "manufactured crises". Excellent read. Talks about the real goals of the "welfare rights" people (to overload the gov't system with handouts and free money giveaways). It's socialist roots. Obama's ties to socialism.

www.americanthinker.com

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

Those 5-10% of the people that decide each election, don't know the difference between Obama and McCain as of 09/01/08. So to answer your question, yes.

re: #61 JSK1121

OT: I've just been chatting with my insane moonbat friend. Here are some observations/excerpts;

1) He thinks the homeless should be able to vote
2) He thinks felons should be able to vote
3) He approves of Obama's illegal campaign donations
4) He approves of Obama's truth squad in Missouri
5) He feels great about the Dems having to lie, cheat and steal their way into power
6) He knows next to nothing about Obama's, Frank's, Dodd's, etc. connections to Fannie and Freddie
7) He thinks it's great that Gwen Ifill will be the massively biased moderator tomorrow evening.

That's it for my fieldwork now, stay tuned for the next installment of Wild Moonbat Kingdom.

Unfortunately, the moonbat has not developed cognitive thinking abilities.

I need some music to soothe my jangled nerves. Any suggestions? (no jazz, country or rapin my library)

re: #85 lifeofthemind

It's amazing how many times the tripe of Marx and Engels has to be tried before people accept that it is based on fallacies and doomed to fail simply because it attempts to address theory and not accept the realities of the world.

re: #90 BeerDrinking_VictoryMonkey
Foo Fighters: Skin and Bones.

re: #76 Athos

With very few exceptions, the real story and real scandal around the foundation of this financial crisis is being covered up by the perpetrators (Dodd, Franks) and the MSM.

"It's all the fault of evil, greedy Republicans, who look like this."

"sleeeeeep....."

GreenliningRedlining is dangerous

re: #60 zato

This Greenlining business model is probably based on lefty math that makes these people feel like a bunch of robinhoods robbing the rich to feed the poor. In reality, they're affirmative action beggars whose actions over the long term will hurt the very people they sought to help out. In a severe recession, all may suffer and the richest may lose their sailboats but its the poor who'll most likely lose food & housing. And lets not forget the implications of reverse racism and their anti-capitalism approach.
And seeking financial help on the basis of the color of one's skin is just Un-American.

I poked around the greenlining website for a few minutes.

They apparantly hire new college grads for $32k a year and train them in a specialty like banking or higher education. I suppose Barak was a similar sort of community organizer.

I could not find, however, how they get money to conduct their operations. But I did send an e-mail asking.

It seems to me that a lot of these activities are good ideas that go too far. If banks are red-lining, that's bad. It should be stopped. If banks are hesitating to lend to unqualified individuals, however, that's a different story. If they do that, they should get a higher interest rate to protect against a higher default rate. This happened via the sub-prime loan tacts. I have no problem with that.

Why in the heck, however, were the banks able to repackage those loans as AAA rated CDOs? That's where the process broke down.

Hoping this is prophetic...

re: #90 BeerDrinking_VictoryMonkey

or rapin my library

I would never dream of rapin' your library!

(for one thing, think of the paper cuts... yeesh)

re: #64 Occasional Reader

So the store was responsible for helping Oprah's mom plan her finances?!

Madness.

the store should have been responsible for allowing an unproven customer build a credit account of 150K. No matter who she is.

Does Oprah's mom have a job?
What is her yearly stipend?

whoever approved her account needs to be looked into; possibly fired.

The biggest financial crisis in the world right now because of some guys afraid of PR problems related to race issues?

I attribute it to recent investion fad of pooling, bundling, slicing and trading of housing loans. Trading loans is the most insane batshit idea of making money ever.

re: #81 zombie

It's been buried.

Just another government funded, liberal 'business'.

There are THOUSANDS of these boondoggles about...

re: #80 FrogMarch

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

Apparently about 50% are this dumb.

re: #93 Occasional Reader

"It's all the fault of evil, greedy Republicans, who look like this."

"sleeeeeep....."

The irony being that Carl Barks created Scrooge McDuck to celebrate capitalism.

re: #84 Occasional Reader

That is HUGE.

If these bonds had been adequately rated to begin with, we wouldn't be in this mess.

Thanks, lefties!

That article was from 2004 on the day the Senate Banking Committee began it's hearings on regulation of Fannie Mae and Freddie Mac. We all know how that turned out.

re: #93 Occasional Reader

Funny, but that has an amazing resemblance to Chuckie Schumer.......

re: #90 BeerDrinking_VictoryMonkey

I need some music to soothe my jangled nerves. Any suggestions? (no jazz, country or rapin my library)

Anything by Bebel Gilberto, if you have it.

If not, pretty much anything Baroque.

As of late, the only thing University's good for is to turn on 6th to go to Vik's.

re: #96 Intrepid

Hoping this is prophetic...

Pray for a cold, cold rain on Nov. 4.

re: #106 Occasional Reader

Anything by Bebel Gilberto, if you have it.

If not, pretty much anything Baroque.

If it ain't Baroque, fix it.

From the Federal Reserve Bank of San Francisco in 1996:

Greenlining Western Brownfields

Over the past 20 years, the Greenlining Coalition, a multi-ethnic group of community, business, and economic development organizations has banded together to advocate for the concerns of low-income, minority, and disabled communities. In 1992, the Coalition formally created a nonprofit organization, The Greenlining Institute, to add a professional research and implementation capacity to its work and to give it a stronger, more proactive dimension. One of the greatest achievements of the Institute was the establishment of CRA agreements with several banks, most notably Wells Fargo Bank and Union Bank, which resulted in over $77 billion dollars in long term community investment commitments.

Through a generous grant from the James Irvine Foundation, The Greenlining Institute will promote major corporate and community support for implementing a statewide plan to recycle and develop California's inner city brownfields. The Institute's goals are two-fold: first, to encourage banks, insurance companies, and other financial institutions to include the financing of brownfield projects in their community development lending programs; second, to ensure that low-income and minority communities are informed about brownfields issues and are active partners in redevelopment planning discussions. Sanwa Bank California, Manufacturers Bank, and Wells Fargo Bank have already shown favorable interest. State Farm Insurance Company is also interested in learning more about the role that insurance companies might play. The Institute will facilitate discussions among lending institutions, developers, and community leaders to consider the project possibilities.

Which means the Greenlining Coalition dates back to the signing of the CRA in 1977.

So the store was responsible for helping Oprah's mom plan her finances?!
Madness.

the store should have been responsible for allowing an unproven customer build a credit account of 150K. No matter who she is.
Does Oprah's mom have a job?
What is her yearly stipend?
whoever approved her account needs to be looked into; possibly fired.

Both of you are correct. One has to be responsible for your screwups. But having worked retail, I can tell you that when someone comes in wanting to spend big bucks, you do what you can to get the sale. Kind of like selling houses and writing mortgages to those who can't afford it.

re: #98 Eowyn2

the store should have been responsible for allowing an unproven customer build a credit account of 150K. No matter who she is.

The store may well have made a lousy credit decision, but where does she get off SUING them over it? She's responsible for her own actions, fer petessake.

re: #90 BeerDrinking_VictoryMonkey

I need some music to soothe my jangled nerves. Any suggestions? (no jazz, country or rapin my library)

this works for me.............It's all right.........

re: #80 FrogMarch

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

Obambi is promising free candy for everyone and everyone is believing it. (He is a very smooth talker) It's like 1/2 the country has gone crazy and thinks that money really does grow on trees.

re: #112 Occasional Reader

She's responsible for her own actions, fer petessake.

You, me, and a lot of people agree with you. Unfortunately, the according the left, individuals are not responsible for their own actions unless they are conservative republicans. If the individual is not a conservative republican, then conservative republicans who control the company are responsible.

My mortgage was sold to Countrywide a couple years back.

Last week I received a letter from Countrywide. So did my liberal girlfriend. So did thousands of other Countrywide customers. The content of the letter? A Countrywide employee sold customer information, including SS numbers, to another party.

All I can do is "hope" that am not a victim of identity theft which would "change" my life situation in an unpleasant way.

re: #95 DeafDog

... It seems to me that a lot of these activities are good ideas that go too far. If banks are red-lining, that's bad. It should be stopped. If banks are hesitating to lend to unqualified individuals, however, that's a different story. If they do that, they should get a higher interest rate to protect against a higher default rate. This happened via the sub-prime loan tacts. I have no problem with that...

The problem is that the whole redlining charge is a fraud. If banks are refusing to do business with qualified customers then they are engaging in conduct that is not only unlawful, and discoverable in an audit, but also irrational. The point is that in a free market if you are a bigotted jerk and refuse to do business with me some other smarter guy will get the business and you will suffer. What regulation does is it limits competition.

Congress cannot pass ANY bailout plan until this is investigated. This "Greenlining Institute" needs to be shut-down.

re: #114 DeafDog

Obambi
is promising free candy for everyone and everyone is believing it. (He
is a very smooth talker) It's like 1/2 the country has gone crazy and
thinks that money really does grow on trees.

That's the lure of socialism - who's going to vote against Santa Claus?

re: #109 BeerDrinking_VictoryMonkey

If it ain't Baroque, fix it.

Here's another idea: Lagrimas Negras.

re: #96 Intrepid

Hoping this is prophetic...

I have heard they will have buses going to state universities in order to transport their voters.

re: #115 Athos

You, me, and a lot of people agree with you.

Well, I'm certainly relieve to hear that *I* agree with me!

re: #91 Athos

It's amazing how many times the tripe of Marx and Engels has to be tried before people accept that it is based on fallacies and doomed to fail simply because it attempts to address theory and not accept the realities of the world.

you mean that people aren't all the same.

re: #119 Maximu§

Congress cannot pass ANY bailout plan until this is investigated. This "Greenlining Institute" needs to be shut-down.

add ACORN to the list.....of course, if there is a bailout plan that gets passed, hopefully the fine print will be checked so these groups do not get a windfall in Federal funds as part of the bailout.

re: #116 neocon hippie

We got that same letter. :(

re: #44 anotherindyfilmguy

Has anyone considered hitting these places with RICO violations?

That would likely require action by the (Bush) Justice Dept.
I wouldn't hold my breath for that at this point.

re: #114 DeafDog

Obambi is promising free candy for everyone and everyone is believing it. (He is a very smooth talker) It's like 1/2 the country has gone crazy and thinks that money really does grow on trees.

everyone who actually believes Obama's insane tax plan - is in for a rude awakening. the donks live to destroy - and socialize.

re: #96 Intrepid

Hoping this is prophetic...

Problem is th enew motor voter laws, putting absentee ballots in without making these new or fake voters show up at a poll on election day. If they vote by mail they are harder to challenge.

Kudos to Zombie.

Wow -- I was running at lunchtime and my buddy and I were talking about this crisis. Except substituting ACORN for the Greenline institute, I was dead on in conveying my understanding of the roots of the problem.
i.e. CRA of 1977 and these groups exploiting that act to blackmail banks. Lots of other players involved, but they were all acting within the law and taking advantage of the laws.

re: #123 Occasional Reader
LOL - I should have PIMF'ed that.....second time today I git burned trying to do several things at once.......

A testament to political correctness and a lack of balls.

re: #107 Oriculum

As of late, the only thing University's good for is to turn on 6th to go to Vik's.

Delicious!

But if you keep going up, directly across the street from the Greenlining Institute is another great Indian place: Udupi Palace. Just as good!

re: #127 looking closely

That would likely require action by the (Bush) Justice Dept.
I wouldn't hold my breath for that at this point.

Bush is just hoping he can flee to Costa Rico on Inauguration Day before Obama's Truth & Reconciliation Committees come for him.

re: #54 Lively

Here's more of that same mentality. Oprah Winfrey's mom (!) is counter suing this store, that she purchased $155K worth of clothes.

Does Oprah have Obama syndrome? Don't help your family. Oprah wouldn't miss that chump change for 5 seconds.

re: #135 BeerDrinking_VictoryMonkey

he can flee to Costa Rico

Don't you mean Puerto Rica?

/

re: #98 Eowyn2

the store should have been responsible for allowing an unproven customer build a credit account of 150K. No matter who she is.

Does Oprah's mom have a job?
What is her yearly stipend?

whoever approved her account needs to be looked into; possibly fired.

OH gimme a BREAK! The STORE responsible? Yeah maybe the store deserves to lose some money (through writing off of the bad debt) because they were stupid. But to suffer a lawsuit as well? they need to counter sue Oprah's Mom for being stupid.

Good Afternoon Lizards! It is a sunny and coolish, overall glorious, day in the Very Far Western Suburbs of Chicagoland.

Thanks to zombie for the post! The true believers will never believe that the Marx/Alinsky/Gramaci are at the heart of this. Luckily, most voters are sane.

How are you-all and what are we talking about?

And every rotten thing that goes on in Washington, DC is tied to Chuckles Schumer...

a nasty man, a very nasty man.

Ohio is voting already, right now, today.

re: #136 ciaospirit

Does Oprah have Obama syndrome? Don't help your family. Oprah wouldn't miss that chump change for 5 seconds.

Yep, Oprah could dig that sum out of from in between the cushions on her couch, no problem. Bizarre.

re: #116 neocon hippie

My mortgage was sold to Countrywide a couple years back.

Last week I received a letter from Countrywide. So did my liberal girlfriend. So did thousands of other Countrywide customers. The content of the letter? A Countrywide employee sold customer information, including SS numbers, to another party.

All I can do is "hope" that am not a victim of identity theft which would "change" my life situation in an unpleasant way.

Terrifying, actually.

I had some past dealings with Countrywide. I always thought their employees were dodgy. I am not surprised by this.

re: #137 Occasional Reader

Don't you mean Puerto Rica?

/

I'm typing with a banana in one hand - give me a break

re: #138 soccerdad

But to suffer a lawsuit as well?

And I have to wonder; what are the alleged damages in her counterclaim? That she's been harmed by the designer clothes stuffed in her closet?

re: #96 Intrepid

Hoping this is prophetic...

Hi Intrepid - Interest link. There is a bonus there. If you go down a little ways into the body of the article and look at the far right side of the page you will see video excerpts of Gov Palin's 2006 Aug and Nov. Gubernatorial debates. Preview of what we might see tomorrow?

re: #144 zombie

Terrifying, actually.

I had some past dealings with Countrywide. I always thought their employees were dodgy. I am not surprised by this.

Chris Dodd was their Senator, what do you expect?

re: #145 BeerDrinking_VictoryMonkey

I'm typing with a banana in one hand - give me a break

As long as it isn't in your tailpipe.

re: #134 zombie

Udupi Palace. Just as good!

With a name that sounds like "doodoo-pee palace", it has to be good.

/pace, Smuckers

re: #145 BeerDrinking_VictoryMonkey

I'm typing with a banana in one hand - give me a break

Talk about leaving yourself wide open...

re: #127 looking closely

Let them finish with the prosecution of Chicago/Illinois politicians --I think that can of worms will produce fodder all over the country. The people screaming the loudest for Obama's candidacy have the most to lose if Patrick Fitzgerald (IIRC, that's the Justice Deptapartment prosecuter?) continues his work.

re: #117 lifeofthemind

The problem is that the whole redlining charge is a fraud. If banks are refusing to do business with qualified customers then they are engaging in conduct that is not only unlawful, and discoverable in an audit, but also irrational. The point is that in a free market if you are a bigotted jerk and refuse to do business with me some other smarter guy will get the business and you will suffer. What regulation does is it limits competition.

I agree with part of what you are saying, but I also admit that the country's history includes many unfortunate instances of racism. There was a time not that long ago when a black man (or woman) could not get a loan because he (or she) was black. That is wrong. To the extent that the 1977 CRA institutionalized that as wrong, I'm ok with that.

To the extent that this law (and the rewrite in 1998) said that banks must extend credit regardless of credit-worthiness, then that is a stupid law. Banks adjusted by giving the loans at higher interest rates. That makes sense to me. So, up to this point, I'm ok with the situation.

Then, banks started selling these loans to Fannie Mae, who paid high prices for the sub-prime loans. Then Fannie Mae repackaged those loans as CDO (collateralized debt obligations) and sold them at a high rate with a AAA rating. That's where the logic breaks down.

re: #144 zombie

Terrifying, actually.

I had some past dealings with Countrywide. I always thought their employees were dodgy. I am not surprised by this.

Pretty sure Dodd works for them before the constituents.

re: #118 taxfreekiller

mortgage loans by ones and two's and in package's have been bought and sold for a long time,

they just never had all these sub-prime (aka no income, no job,no IRS returns, (green card), fake ID, single woman 5 kids (with some man along who just sat there and looked down at his $1500.00 teeny shoes.

It was a stupid idea to begin with. For loans to work it is crucial that debtor and creditor know as much as possible about each other in order to adequately rate the risk of the whole shebang. But actual knowledge goes down the drain once you handle loans as commodities which you can lie about and sell them for more than they are actually worth.

re: #142 lifeofthemind

Ohio is voting already, right now, today.

This is not a good time for early voting for the Republicans. The Dems are looking good on the economy, mostly because they lie, cheat and have the media backing them. If I were an Ohio swing voter, I'd wait until the day of. Hopefully by then a majority of us will have realized that Obama is a socialist nutjob.

Fingers crossed...

re: #150 Occasional Reader

With a name that sounds like "doodoo-pee palace", it has to be good.

/pace, Smuckers

I thought it sounds like "You Dopey," which would be fitting & proper for the Bay Area.

Zombie kicks a** and takes names!

McCain camp, are you watching?

re: #152 ggt

Let them finish with the prosecution of Chicago/Illinois politicians --I think that can of worms will produce fodder all over the country. The people screaming the loudest for Obama's candidacy have the most to lose if Patrick Fitzgerald (IIRC, that's the Justice Deptapartment prosecuter?) continues his work.

My cousin has worked in that office since he passed the bar, thirty years ago. No shortage of bad guys to prosecute in Northern Illinois.

Alright, dammit, I'm pissed!

Mom got a $7000 credit offer from some group called "citifinancial" today in the mail, and here's what it says:

"Pre-selected Certificate: $7000

Dear (mom of Intrepid),

Because of your excellent credit, you're pre-selected for a $7000 personal loan from CitiFinancial. You could get your check the same day. Here's all you have to do:

1. Bring the above certificate to our office at the location below.
2. Get a check made out to you the same day if you're approved by noon.
3. Use your check for anything you need. You can cash your check right away. Then use the money to pay off bills, make home improvements or cover unexpected expenses. The money is yours to spend as you choose.

To make the process even easier, call us before you come in and we'll take your application over the phone. Then we can have your check ready for you whenever you stop by.

Sincerely,
Stupi Di Diot (ok, I made that up)
Branch Manager

Mom's demanding that we go down there so she can get her money. The problem? Mom has Alzheimer's, and she thinks this is some sort of sweepstakes award.

I.Am.Pissed.

re: #143 Occasional Reader

Yep, Oprah could dig that sum out of from in between the cushions on her couch, no problem. Bizarre.

screw that, she's got it in her cleavage at any given moment! ;)

re: #145 BeerDrinking_VictoryMonkey

I'm typing with a banana in one hand - give me a break

don't do that too much; you'll grow hair on your palms and lose your eyesight.

re: #61 JSK1121

OT: I've just been chatting with my insane moonbat friend. Here are some observations/excerpts;

1) He thinks the homeless should be able to vote
2) He thinks felons should be able to vote
3) He approves of Obama's illegal campaign donations
4) He approves of Obama's truth squad in Missouri
5) He feels great about the Dems having to lie, cheat and steal their way into power
6) He knows next to nothing about Obama's, Frank's, Dodd's, etc. connections to Fannie and Freddie
7) He thinks it's great that Gwen Ifill will be the massively biased moderator tomorrow evening.

That's it for my fieldwork now, stay tuned for the next installment of Wild Moonbat Kingdom.

Well, he starts out strong, then just goes downhill from there. BTW, what's to stop homeless from voting if they are otherwise qualified?

re: #145 BeerDrinking_VictoryMonkey

Oooooh. Stance is everything.

re: #162 Vergeltung

screw that, she's got it in her cleavage at any given moment! ;)

Talk about a treasure chest.
/rimshot

From the article by zombie:

It all started with The Community Reinvestment Act, a federal law originally passed during the Carter administration and then ramped up during the Clinton years, that was originally designed to prevent racist lending practices by banks who wouldn’t loan money to minorities, even if they were qualified. But over time the law was twisted to force banks to make loans to minorities even if they weren’t qualified — which all may sound very peachy keen in Fantasy Utopia Land but which inevitably spells long-term financial suicide for a bank.

In other words, rather than this crisis being caused by "naked capitalism" this financial meltdown was created by socialist interference in free enterprise.

re: #164 CyanSnowHawk

Well, he starts out strong, then just goes downhill from there. BTW, what's to stop homeless from voting if they are otherwise qualified?

I am kind of of the opinion that, if taxation without representation is wrong, then representation without taxation is wrong. But that's just me.

re: #162 Vergeltung

screw that, she's got it in her cleavage at any given moment! ;)

Uh, YOU look for it. I'll support you all the way...

(We switch roles when we're looking for the same thing with respect to Giselle Bundchen. Deal?)

re: #54 Lively

These people who want stuff they never have any intention on paying for amazed (sic) me.

(from the linked article......in the post #54)

Court papers say Lee resolved a 2002 case with the company over a $175,000 bill. The resolution prohibited Valentina from extending further credit to her.

So, The Oprah's mom was in trouble in 2002 with the SAME COMPANY over 175K and they extended her credit AGAIN? They deserve to get beat for the 156K this time around....clearly The Oprah's Mom is a deadbeat and had no intention of paying for the "high end" clothing.

re: #120 BeerDrinking_VictoryMonkey

That's the lure of socialism - who's going to vote against Santa Claus?

This is a Bad Santa....

Wow.

I finally had the time to read all of it.

We need to look at this further. Much further.

Thank you Zombie.

re: #99 000G

The biggest financial crisis in the world right now because of some guys afraid of PR problems related to race issues?

I attribute it to recent investion fad of pooling, bundling, slicing and trading of housing loans. Trading loans is the most insane batshit idea of making money ever.

It wasn't so much PR problems as it was use (abuse) of federal bank regulatory powers to prevent things such as a bank merger or even as trivial as a bank opening a new branch, unless said bank had greased the palms of ACORN, Jesse Jackson, etc.

Nothing crazy about bundling loans into large enough packages to be able to be sold as tradeable securities. Nothing crazy about slicing loan packages into tranches so that investing institutions could make the timing of maturity coincide with the point in time when they would need to meet an obligation. What's crazy is loaning money, albeit under implied duress, to people who don't have the ability to repay the loan. And once the floodgate was opened for minorities and underserved areas, well, the gate was open for everybody. Besides, ACORN and Jesse said all those people were going to repay their mortgages.

ot
hannity is going to interview gov. palin this afternoon.
he is really hitting the gwen ifel conflict of interest story too.

re: #164 CyanSnowHawk

Well, he starts out strong, then just goes downhill from there. BTW, what's to stop homeless from voting if they are otherwise qualified?

They register them all the time. This week in Ohio, they are registering and voting.

re: #169 Occasional Reader

Uh, YOU look for it. I'll support you all the way...

(We switch roles when we're looking for the same thing with respect to Giselle Bundchen. Deal?)

sure. she's not my fave anyways. you can have her. I'll need a few materials and supplies for the Oprah job though, ok?

re: #128 FrogMarch

everyone who actually believes Obama's insane tax plan - is in for a rude awakening. the donks live to destroy - and socialize.

95% will get a tax break. If you make less than 240K you will be better off!

Plus - free healthcare, magically cheap gas and the whole world will love the USA again.

Where do I sign up?

re: #145 BeerDrinking_VictoryMonkey

I'm typing with a banana in one hand - give me a break

mmmm? Do you have much practice surfing the net that way?

/can't give me a straight line like that and expect any better.

re: #120 BeerDrinking_VictoryMonkey

That's the lure of socialism - who's going to vote against Santa Claus?

The sweat shop elves - that's who!

re: #167 Kenneth

From the article by zombie:

In other words, rather than this crisis being caused by "naked capitalism" this financial meltdown was created by socialist interference in free enterprise.

Yes. Exactamundo.

re: #175 redstateredneck

You know, that could be a blessing in disguise.

Ken Blackwell, the former Ohio Sec of State, says this will give everyone time to check out these early voters . . . make sure they really exist and just haven't been made up out of thin air or culled from the local prisons and graveyards.

re: #177 DeafDog

95% will get a tax break. If you make less than 240K you will be better off!

Plus - free healthcare, magically cheap gas and the whole world will love the USA again.

Where do I sign up?

....unless your boss makes 250k in his 'S' corp and now can't afford you....then your effective tax rate becomes 100%

;~P

re: #160 redstateredneck

My cousin has worked in that office since he passed the bar, thirty years ago. No shortage of bad guys to prosecute in Northern Illinois.

Pat Fitzgerald, who prosecuted Scooter Libby, is in the DoJ but is no friend of Republicans. He is believed to be a friend of Dorothy however and putatively a backer of Hillary. If he and the Clintons wanted to he could use Rezco to take down Obama but he'd have to move fast.

By the way, even if Obama is elected, all this investigative reporting should not only continue, but increase.

re: #90 BeerDrinking_VictoryMonkey

I need some music to soothe my jangled nerves. Any suggestions? (no jazz, country or rapin my library)

Bach's Brandenberg Concertos.

re: #182 eschew_obfuscation

....unless your boss makes 250k in his 'S' corp and now can't afford you....then your effective tax rate becomes 100%

;~P

Of course there will be massive unemplyment and capital flight out of the USA. But that's a detail because everyine will get cheaper gas, cheaper mortgages and cheaper healthcare. What could possibly go wrong?

Sarah Palin coming up on Hannity's radio show... linky dink

re: #167 Kenneth

From the article by zombie:

In other words, rather than this crisis being caused by "naked capitalism" this financial meltdown was created by socialist interference in free enterprise.

Ding, ding, ding.........We have a WINNER!

re: #117 lifeofthemind

The problem is that the whole redlining charge is a fraud.

In fairness to the original CRA, redlining WAS a problem in 1977. Banks did discriminate against people who lived in certain neighborhoods - black neighborhoods. The real problem began when the Clinton justice dept. put the CRA on steroids and began making banks lend to individuals who didn't have sufficient income and/or assets to repay the loans. Snowballed from there.

Whenever you see Lefties claiming that X is to blame, you'll usually be right if you assume either that a) they were doing X themselves, or b) the exact opposite of X is to blame -- and again, something they were doing themselves.

Call it whatever you want -- deflection, projection -- the Left does this all the time.

The problem is greed! i.e. we're pocketing dough from those involved
Unrestrained capitalism is to blame! i.e. socialistic centralized control is to blam
etc., &c., ...

re: #184 godfrey

By the way, even if Obama is elected, all this investigative reporting should not only continue, but increase.

Yeah, but if it's a government entity doing the investigating... Obama could just kill it at his convenience, right? :-|

re: #180 zombie

Yes. Exactamundo.

So ....logically... the cure to this problem is to have even more socialism, run by the same gang who created this mess... Obama!

re: #191 NomadOfNorad

Those changes won't occur overnight. We need to keep after this guy. He's going to try to do a lot of damage in a short period of time.

BTW, he only has four years. The economy will utterly tank under him.

re: #175 redstateredneck

They register them all the time. This week in Ohio, they are registering and voting.

This is soooo funny about registering "homeless drunks"

re: #122 Lively

I have heard they will have buses going to state universities in order to transport their voters.

They already do, see Ohio State.

And I was told by a very liberal friend who lives in a university town that the Democrats were shuttle busing students to the early voting at the election commission. Same day registration, but the election workers weren't even bothering to register the students. They were letting them go straight to the voting machines. My liberal friend was actually shocked and disturbed by this (I didn't say she was a moonbat). Who knows how many students voted multiple times, and Kerry didn't carry her state by very many votes.

re: #145 BeerDrinking_VictoryMonkey

I'm typing with a banana in one hand - give me a break

Chakito?

re: #189 Son of the Black Dog

As with social issue when it meets legislation -- people will take advantage. CRA was necessary, but was abused and corrupted.

re: #191 NomadOfNorad

What? You don't think our self-appointed 4th branch of government (MSM) will do it's job and be fair and balanced in their reporting?

re: #198 ggt

What? You don't think our self-appointed 4th branch of government (MSM) will do it's job and be fair and balanced in their reporting?

Do I even need to give an ANSWER to that one?!?!? :D :D :D :D

On my way home, i heard on a conservative radio talk show that the Zero had made another campaign promise while stumping in Wisconsin: He said he was going to cut the capital gains tax for small businesses.
Do small businesses even pay capital gains tax?

re: #125 Athos

add ACORN to the list.....of course, if there is a bailout plan that gets passed, hopefully the fine print will be checked so these groups do not get a windfall in Federal funds as part of the bailout.

Assuming that this country is ever governed by normal Americans again, there needs to be a serious effort made to defund the left. Almost every abuse you can find is being perpetrated by groups who are funded directly or indirectly by our tax dollars. ACORN, the ACLU, Greenlining & etc., NPR, PBS, the tax exempt foundations - all of them need to be shut down and their assets seized for the benefit of the taxpayers.

re: #194 allahakchew

This is soooo funny about registering "homeless drunks"
Should have sobered them up first

Only in America!

re: #200 Wishing

On my way home, i heard on a conservative radio talk show that the Zero had made another campaign promise while stumping in Wisconsin: He said he was going to cut the capital gains tax for small businesses.
Do small businesses even pay capital gains tax?

Well.....I don't, but my company doesn't hold any equity investments other than it's own equity.

re: #96 Intrepid

Hoping this is prophetic...

New voters massively "liked" John Kerry in 2004... and didn't show up at the polls.

re: #167 Kenneth

From the article by zombie:

In other words, rather than this crisis being caused by "naked capitalism" this financial meltdown was created by socialist interference in free enterprise.

Now you're thinking. Which is more than 50 percent of voters can do.

re: #200 Wishing

On my way home, i heard on a conservative radio talk show that the Zero had made another campaign promise while stumping in Wisconsin: He said he was going to cut the capital gains tax for small businesses.
Do small businesses even pay capital gains tax?

Like pretty much all of Obama's economics, this is BS.

Reminds me of his promise to cut the income tax of 95% of Americans. Considering that 40% of Americans actually pay no net income tax whatever, this would be quite a feat (unless he's proposing the "negative income tax").

They could pay capital gains taxes if they were in the business of investing. . .which very few are. This would have absolutely no effect on the tax burden of most businesses.

Many if not most small businesses in fact, fall under individuals tax returns. But Obama would never want to reduce THEIR taxes, since these are the "rich" Americans that aren't paying enough taxes already.

Gwen Ifle complained that Palin "belittled and mocked Obama". Not only is that ironic considering the general media attitude toward Gov. Palin, it is a projection of the ultimate fear of the narcissist: to be mocked & belittled. The media is providing the perfect narcissistic supply to Obama's mental illness.

re: #80 FrogMarch

Now Obama is out there blaming Haliburton.

Are the American people this dumb?

Yes, unfortunately, if all those jiggered polls are to be believed.

re: #207 Kenneth

Gwen Ifle complained that Palin "belittled and mocked Obama".

Yup.
And hopefully she will do it again.
Often.
Especially in response to highly partisan questions from Ifle during the debate.

re: #209 looking closely

Yup.
And hopefully she will do it again.
Often.
Especially in response to highly partisan questions from Ifle during the debate.

Great. I sent an email to the debate commission this morning, asking them to pull Ifill and bring in Brian Lamb.

Not that they are even going to be bothered reading my email.

re: #180 zombie

Yes. Exactamundo.

You speak Esperanto!

Zombie, I'm sending this everyone I can.

re: #195 Son of the Black Dog

They already do, see Ohio State.

And I was told by a very liberal friend who lives in a university town that the Democrats were shuttle busing students to the early voting at the election commission. Same day registration, but the election workers weren't even bothering to register the students. They were letting them go straight to the voting machines. My liberal friend was actually shocked and disturbed by this (I didn't say she was a moonbat). Who knows how many students voted multiple times, and Kerry didn't carry her state by very many votes.

Should have mentioned that this was from 2004.

re: #200 Wishing

On my way home, i heard on a conservative radio talk show that the Zero had made another campaign promise while stumping in Wisconsin: He said he was going to cut the capital gains tax for small businesses.
Do small businesses even pay capital gains tax?

Not so much.

re: #194 allahakchew

That's hysterical.

Homelessly McWinterhat. Thug thizzle. Gawd...

...the same unnamed source related a heartwarming story of a 15 passenger van dropping off a load of drunk, homeless guys at Vet's Memorial in Columbus. The organizers were just trying to allow these men to exercise their right to vote, but it seemed that they were all too drunk to get in line. What commenced was a "homeless rodeo" where the organizers had to wrangle the men from the parking lot and load them back in the van.

I wanna see a video of that. Slightly sped up. With Yakety Sax.

=^D

re: #212 Occasional Reader

You speak Esperanto!

Da kurso mi paroli Esperanto! Fari ne æiu?

re: #213 Ward Cleaver

Zombie, I'm sending this everyone I can.

Thank you!

re: #22 lostlakehiker

The crisis came on us when the amount of bad lending reached critical mass. CRA got the ball rolling, but it's not the sheer quantity of bad loans to unqualified minorities that got us here.

The banks had to ask for regulatory permission to write loans that would normally count as imprudent. They got it, because to have refused permission would have been an impediment to affirmative action lending.

But after the change, it wasn't just minorities who could qualify for loans they had no chance to repay. It was everybody. And if not everybody borrowed on those terms, a critical mass of non-minority borrowers did. Whitey isn't off the hook on this one.

Today's fiscal mushroom cloud is the result of removing the control rods from the pile. Barney Franks and pals insisted on it because they wanted homeownership for all, not just those with two dimes to rub together. But the motive isn't the cause, exactly. The cause is that everybody and his uncle got drunk at this credit-for-all party.

An analysis that would withstand Occam's Razor. I agree with you. I don't think Barney Frank, Chris Dodd or Bill Clinton wanted this to happen. But most liberal social engineering, the affirmative action lending efforts did not account for basic human nature. In this case greed.

-Greed of CEOs wanting to hit their quarterly numbers and get there bonus.
-Greed of shareholders wanting to see EPS and share price increase.
-Greed of mortgage brokers and their managers who wanted to cash in on the huge fees generated when people bought a home, refinanced or made a speculative investment.
-Greed of the home flippers and speculators who wanted to follow in the foot steps of those people selling their "systems" on late night TV
-Greed of the people who wanted to live large but could not afford it.

The thing most of those people were playing by the rules in a system designed to come off the tracks as soon as it met the real world.

re: #200 Wishing

On my way home, i heard on a conservative radio talk show that the Zero had made another campaign promise while stumping in Wisconsin: He said he was going to cut the capital gains tax for small businesses.
Do small businesses even pay capital gains tax?

That's a smoke screen for raising the income taxes on small businesses making over 250,000 per annum. Capital gains taxes are investment taxes on money earned on the sale of real estate, a business or stocks. Thus capital "gains".

re: #111 Dave the.....

Both of you are correct. One has to be responsible for your screwups. But having worked retail, I can tell you that when someone comes in wanting to spend big bucks, you do what you can to get the sale. Kind of like selling houses and writing mortgages to those who can't afford it.

I've worked retail too. many many years. sometimes the worst customers are the high purchasers but its still an exhorbitant amount.

For what it's worth, I sent Greenling an e-mail asking where they get their funding and got a reply back from Orson Aguilar, Incoming Executive Director, stating the following:

Greenlining obtains its revenues from the following sources:

Rental Income (we owe a building)

Interest Income (we have a small endowment that earns interest)

Legal Fees (we are active at the California Public Utilities Commission and are awarded fees when our intervention is successful)

Private Foundations (namely The California Endowment, The San Francisco Foundation, California Wellness Foundation)

Annual Economic Summit (individuals purchase tickets and some corporations purchase tables)

Corporate Foundations (Bank of America, WAMU, Wells Fargo, HSBC, Citi, Merrill Lynch, Union Bank)

re: #174 nyc redneck

ot
hannity is going to interview gov. palin this afternoon.
he is really hitting the gwen ifel conflict of interest story too.

nycrn -

Heard the interview, it was good, Sarah was Sarah - Hannity let her speak for the most part.

-S-

re: #223 DeafDog

See the Berkeley Daily Planet article that is now in my post. It confirms most of that.

Under pressure from Greenlining, Wells Fargo committed $45 billion to community lending and $300 million to philanthropic causes as part of its 1996 acquisition of Los Angeles-based First Interstate Bank. Washington Mutual, also hounded by Greenlining, agreed to provide $120 million in community lending as part of its 2001 merger with Bank United. Similar concessions have been squeezed out of insurance and utility companies. Greenlining issues annual report cards tracking the institutions’ progress in hiring minorities and serving minority communities.

These guys owe me money, Greenlining. Wonder if I can sue. What these Community Extortion Groups need is to be on the wrong end of a few class action lawsuits.

Look what I found about La Raza:

Improving Loan Servicing to Prevent Latino Foreclosures

The NCLR Homeownership Network (NHN), a network of nearly 50 community-based counseling providers, works with more than 30,000 families annually. Our subsidiary, the Raza Development Fund (RDF), is the nation s largest Hispanic Community Development Financial Institution (CDFI). Since 1999, RDF has provided $400 million in financing to locally-based development projects throughout the country. These relationships have increased NCLR's institutional knowledge of how Latinos interact with the mortgage market and how well the government regulates financial services markets.

As foreclosure rates continue to rise in all loan categories, it is clear that current efforts are falling short of their goal to keep willing and able families in their homes. According to figures released in July 2008 by the Mortgage Bankers Association, 16% of subprime loans were more than 90 days delinquent at the end of the March 2008 double the number one year earlier. Moreover, the figures continue to point to a bleak future. According to data released this month by HOPE NOW,1 nearly 2 million loans are 60 days or more delinquent, a 4% increase from July 2007.

Here are their "recommendations":

Create a duty for servicers to provide loss mitigation services to struggling borrowers. In the current scenario, borrowers are at the mercy of their servicers, who work for the investor. To give the relationship balance, servicers must be given an incentive to provide loss mitigation services to delinquent borrowers before proceeding with a foreclosure action. Such a duty is included in the Foreclosure Prevention and Sound Mortgage Servicing Act of 2008 (H.R. 5679).

Require that loan modifications are sustainable over the long term. Most at-risk borrowers are in their current predicament because the original lender did not issue a loan that was sustainable over the long term. Servicers must use caution to ensure the same mistake does not happen again. NCLR calls for the use of rescue products, loan modifications, principal reductions, and other tools to modify the loan in a way that will remain affordable for the borrower over the long term. H.R. 5679 would require that servicers engage in an affordability analysis before granting a modification.

Require servicers to disclose the investor upon request. Borrowers have a right to know who owns their loans and to verify their rules and guidelines regarding loan servicing. Disclosing the investor will shed more light on the negotiation process and borrowers and counselors will be better informed of their rights and opportunities.

Prohibit foreclosure during loss mitigation. Due to the bottleneck of cases in the loss mitigation system, too many borrowers are slipping through the cracks. Servicers and investors should be prohibited from moving forward on a foreclosure while the case makes its way through the company's own loss mitigation system. Practically speaking, this means the servicer would be prohibited from moving a case to its internal legal department once a borrower submits a loan workout package to the loss mitigation department. This will improve the borrower's chances of understanding all its workout options before excess legal fees pile up or foreclosure proceedings begin.

Unbelievable! They contributed to the financial meltdown of the economy with bad loans, and now they want bankers to forebear, or recommend legislation to force banks not to foreclose!

Where do I go to get my tax money back?

re: #225 zombie

See the Berkeley Daily Planet article that is now in my post. It confirms most of that.

Thanks for the update. This sort of racket is interesting - especially since it is looking likely that our next president has his roots in these sorts of activities.

This is very interesting. The #10 post following the Greenlining article had a live link to a must-read article (address below). This stuff needs to be spread far and wide. I will be doing my part.

[Link: www.americanthinker.com...]