This might be an odd questions but

[cluckychick]

Quote:
You are about correct. The problem actually started with the passing of The Community Reinvestment Act (CRA), passed under Jimmy Carter in 1977. The intent of the CRA was to ensure banks gave housing loans to low-income families. The Act wasn't just to encourage the banks, it actually created penalties with stiff fines for banks that didn't commit to making those loans, even if the bankers were convinced those loans were risky. On the heels of that passing came ACORN.

 

[I have WHAT in my yard?]

Guys, look I really don't want to start an argument, but you need to revisit your understanding of this. Yes, the banks were told to make certain numbers of risky mortgages. The number they were "forced" to make (and that is using the term forced VERY loosely) was exceedingly small. I don't have the number off the top of my head but I can find it if you want.

The problem came from private - not under the aegis of Acorn or CRA - mortgage firms found the market to be lucrative and jumped on the bandwagon. And the banks, which should have known better but saw a quick buck, bought THESE unsound mortgages from them and then tried to pass them off to other investors. It became a huge game of pass the hot potato. And they ALL knew what they were doing.

Please rethink this. Those banks had huge numbers of lobbyists and massive influence - do you really in your heart think that banks would allow themselves to be "forced" to make bad loans? No way, the banks actually control the flow of money more than the government does.

Ask yourself who benefits from your thinking that the banks were blameless? Who benefits from getting you to consider "those" people as being the problem instead of it being the banks? The power elite had control all along and new **** well what they were doing.

 

[I have WHAT in my yard?]

Quote:
I will agree with this part of your post, though. But, that segment of society is dedicated to getting the rest of us to turn on each other so we don't see who it is that is robbing us all blind.

 

[Jena]

Rhett&SarahsMom :

wow Jena
That sounds so much like what is happening here and how a lot of Americans feel. I didnt know what was going on "across the pond"

It's sad really. That we have all allowed this to happen. And now I dont think that "we" have the power to make it stop, go away or even get better. The way of life that SO many were accustomed to is now gone. Will it come around again? Yes. It always does. But with any luck some more will have learned

Hi and sorry for the delay, I was out trying to find another way ahead.... lol...lol....

See I am really just an old rebel. lol...lol.

But seriously, I was so interested in what you were all saying,and felt quite shy about butting in, but sharing your concerns. Just wanted to say you are not alone.

On our own we do not have the power, but collectively we do. We give the power to those we trust to look after us, and if they fail then we suffer.

The saying "Power Corrupts, absolute power corrupts absolutely" is the same the world over. It is also still as powerful today.

When we are safe and secure we get complacent and we do not ask the questions or challenge the system that has us in its grip, and now we are realising the scary things that have taken over.

Live local think Global is a good way I think, if we all do the same then they can not shake us, we will support each other.

lol.... it is so good to share our concerns across that muddy old pond....lol.... see we are really an amazing community for real.
Thinking of all of you.

Jena.​

 

[Jena]

I have WHAT in my yard? :

Quote:
I will agree with this part of your post, though. But, that segment of society is dedicated to getting the rest of us to turn on each other so we don't see who it is that is robbing us all blind.

This is the most sensible thing I have heard in a long time, we are being hoodwinked to not see who is really responsible, and yes we are being led into attacking and blaming locally because we feel that we are not powerful enough to go to the real cause of the problem. Given a choice do we take on a mouse or a bear? Makes sense to blame the small people who are as much victims as all of us are.​

 

[OPIE]

Either way, no matter how you look at it, we are in for a bad storm so button down the hatches. I dont want to see it, but I know I will. I know this will come across wrong to some, but the way I see it, I am not all upset about the coming trouble. I have seen so many people going around thining there Sh$* didnt stink and they were better than anyone who didnt drive fancy cars and a 1/4 million dollar home. They bought there snot nosed kid a new mustang when he turned 16 and there idea is, "responsabilty? what responsability! Mommy and Daddy will get me outta trouble."
Maybe know all this will bring people down a couple notches and a little humility wont hurt them. Let 'em eat a little crow like the rest of us. LOL.

Oh Jena, Dont worry, everyone hates us "yanks" to.

 

[Jena]

Quote:
Hi Opie,

Yes I agree this is all going to be a learning curve.

I just hope age will get me through it. lol...lol.... finally it has to have some advantage.

Humility is the key you are right and it is always dangerous when anyone thinks they do not need to have a care for humility.

In the great scheme of things we are really very small. lol... the forces of nature give us regular lessons on that, but some just refuse to learn.

You are not hated here Opie, I am just glad to find others who share my thoughts. lol....

We will survive !!!!!

Jena.

 

[I have WHAT in my yard?]

I was sort of hoping this depression we're in would knock a few of the holier than thou bunch down a notch or two, but we're still struggling down here while they belly up to the bar and gorge themselves on our sweat earned money.

 

[Blue Skys]

I'm not one to say anyone should do anything, but it is suprising how many people don't know what kind or organizations their money is going to. Many large banks are already supported by foreign money, some of which is very dangerous. look at www.actforamerica.org if you want to know more about it. I would just be aware of who or what I support with my business.

 

[I have WHAT in my yard?]

The upsaid of so many foreign countries owning so much of our country is that those countries are motivated to help us (or at least not hurt us) in keeping our economy afloat...


It's all in the toilet and the fighting amongst ourselves down here in the bowl is pulling the chain. Hold your breath!