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The New THOMA$ REPORT on Sunday, April 11, 2010 1:43:30 PM
And they’re right. What they don't tell you is the “promiscuous lending” was done to OBEY THE LAW. The “Citizen’s Reinvestment Act of 1976,” that FORCED lenders to loan money to deadbeats because they “needed” it. Passed by a Democrat Congress and signed by a Democrat president (Jimmy Carter), strengthened by another Democrat Congress, and again signed by a Democrat president (Bill Clinton). They also created a “safety valve in Fannie Mae and Freddie Mac, who bought up all those bad loans to “keep the lid on” until they needed to “let it fly” just before the 2008 election, so as to get Obama and lots of other Democrats elected, to take over the government in a “bloodless coup.” What amazes me is that Fannie and Freddie are (quietly) back in business, with unlimited funding, and are STILL buying up the “deadbeat loans,” apparently hoping that will make the economy better under the Democrats. And they’re still enforcing the Citizen’s Reinvestment Act. This is how your government steals everything YOU own, as well as what your children and grandchildren will own. (Just common sense)