Hat tip to Hoosier Access for posting this video which ties Obama's own words and his scoundrel advisors as culprits in the sub-prime mortgage meltdown which led to bank failures and ultimately the bailout of Wall Street.
The fix is in for Obama...or is it? By now everyone realizes we cannot count on mainstream media to report what they know. Maybe the blogs and talk radio hosts will get the word out.
Ordinary Americans are having to take into their own hands what the lame journalists in this country will not do. As far as I'm concerned the Gannett newspapers financial woes are their just desserts.
Sunday, October 5, 2008
After the Sub Prime Crisis already started in 2007 Obama says Sub Prime Mortgages that gave houses to people WHO COULDN'T AFFORD THEM was a GOOD IDEA!
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The Community Reinvestment Act was parlayed into these sub-standard lending practices, wherein banks had certain lending quotas within certain targeted areas or "districts," another brand of red-lining.
Banks went so far as to suggest projects on this basis. to bolster their "CRA compliance," putting their shareholders at odds with the shareholders of the nation- it's taxpayers.
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