Put your ad on MySaline! 501.303.4010





.

.



Click to see the Complete List of 2014 Candidates for State, County, City & School Board Races.

Members

Latest Activity

Shelli Russell updated an event
Thumbnail

Free Movies In Tyndall Park Amphitheatre at Tyndall Park Amphitheatre, Benton bordered by S.4th, E.Sevier, N. Border & Hoover

September 26, 2014 from 7pm to 9pm
19 minutes ago
Shelli Russell posted blog posts
33 minutes ago
Thelma Edwards Poole posted a blog post
1 hour ago
Shelli Russell posted a status
"Looking for whether the county and/or statewide alcohol initiative were going to be on the ballot? The answer is here: http://j.mp/XUEZcG"
1 hour ago
Shelli Russell commented on Carlton Clay's blog post Where are we on the wet/dry, county/state thingee?
1 hour ago
Shelli Russell commented on Kenny Nony's blog post WELCOME FALL
1 hour ago
Thelma Edwards Poole posted events
1 hour ago
Thelma Edwards Poole updated an event
Thumbnail

Concert Benefit for Safe Haven at First United Methodist Church in the Christian Life Center, Market St, Benton

October 11, 2014 from 6pm to 8pm
2 hours ago
Denise Brown is now a member of MySaline.com
2 hours ago
Shelli Russell commented on Carlton Clay's blog post Where are we on the wet/dry, county/state thingee?
2 hours ago
Seth Hardwick commented on Kenny Nony's blog post BREAKING NEWS
2 hours ago
Seth Hardwick posted a blog post
2 hours ago
Kenny Nony posted a blog post
20 hours ago
Andy Pierce commented on Shelli Russell's blog post I'm Curious to Know Some Things About MySaline Readers
21 hours ago
Shelli Russell posted a blog post
yesterday
Seth Hardwick posted a blog post
yesterday
Brian Handel commented on Shelli Russell's blog post I'm Curious to Know Some Things About MySaline Readers
yesterday
Carlton Clay posted a blog post
yesterday
Profile Iconkaylin fike and John Murphy joined MySaline.com
yesterday
Cara Smith commented on Shelli Russell's blog post I'm Curious to Know Some Things About MySaline Readers
Sunday

It's been policy MySaline's since October 2013... Use your real first and last name as your username. Use the Settings link to change it. Don't be afraid to update your profile pic while you're there!  You're beautiful!


Opinions expressed on MySaline.com are not necessarily those of MySaline. Members are responsible for their own content. Read the terms of service on your profile page. Read it. Read.

Contact MySaline with questions about the website, advertising, donating to support MySaline, or any other reason:

PO Box 307, Bryant AR 72089, 501.303.4010, info@mysaline.com

MySaline.com is news & community since 2007 in Saline County, Arkansas. Join today and get involved!

1977, President Jimmy Carter + 1995, President Bill Clinton * "CRA" - Community Reinvestment Act * Origin of the Current "Crisis"

http://www.answers.com/topic/community-reinvestment-act

In 1977 President Jimmy Carter signed the Community Redevelopment Reinvestment Act (or CRA) into law. As a result of “national grassroots pressure for affordable housing”, it forced banks to underwrite risky mortgage loans in order to meet the needs of “the entire community.”

In 1995 the Clinton administration strengthened the regulations of the Community Redevelopment Act. The CRA enabled consumers to secure mortgages with “no verification of income or assets; little consideration of the applicant’s ability to make payments; [and] no down payment.”

As the mortgage industry grew, Fannie Mae and Freddie Mac (government-sponsored entities, or GSEs) became a kind of “jobs program for out-of-work Democrats”.

Clinton administration friends and staffers managed the GSEs including Franklin Raines (now advisor to President Obama), Jim Johnson, Jamie Gorelick (outspoken member of the "Bi-Partisan 9/11 Commission")and Rahm Emmanual (now Chief of Staff for President Obama). This small group of executives paid themselves nearly $200 million in only six years’ time.

Views: 960

Tags: CRA

Comment

You need to be a member of MySaline.com to add comments!

Join MySaline.com

Comment by Brad Moore on February 17, 2009 at 11:10am
Chad Krebs:
I understand your mathematical timeline and the logicial conclusions you derive; however, that is not the point I am trying to make. The point is, the toxic financial stew began in 1977 and was shifted into overdrive in 1995.

Kirby lists compelling videos that illustrate my point.

President Carter laid the foundation.

President Clinton got in the dry.

Nancy Pelosi, Barney Frank, Charles Rangle, etc. exploited it.

And now, the politicians that "moved into the house Carter & Clinton built" want to point the finger at "predatory lenders". When in fact, these politicians built a "big game resevere" for the "predators" to thrive in.

Nancy Pelosi and Barney Frank are con artists!

-Brad
Comment by Phillip Howell on February 16, 2009 at 2:42pm
Well...you know what they say..."Where there is smoke there is fire!"...Funny how a lot a people can't seem to remember back much further than "the last 8 years"...

© 2014   Created by Shelli Russell.

Badges  |  Report an Issue  |  Terms of Service