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Thread: Calif. AG Says ACORN Broke No Criminal Laws

  1. #41
    Advisor Politics101's Avatar
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    Mar 2010
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    08-24-10 @ 10:51 PM

    Re: Calif. AG Says ACORN Broke No Criminal Laws

    Quote Originally Posted by Lord Tammerlain View Post
    Which regulations were those and what was the punishement for the bank if they did not follow them?


    Instead of waiting

    You are talking about the CRA which was designed to encourage lending into poorer minority communities

    The punishement was.

    The CRA would provide a score on how well the bank met the CRA regulations. That score would be taken into advisement by Banking regulators on whether or not to allow banking expansion through opening new branches or buying out its competitors.

    Operative word advisement. The CRA by itself could do nothing, its score would only be part of what would be used to determine if the bank should be allowed to buy out a competitor
    Actually that's a good point. The regulations that allowed banks to loan money to people who could never pay it back was, temporarily, on paper, a 'profitable' practice because the bad debt was at first considered future revenue. So they both played on each other that worked out for the worse of our economy.

  2. #42

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    05-16-15 @ 12:32 PM

    Re: Calif. AG Says ACORN Broke No Criminal Laws

    greenspan testifies that congressional pressure was applied on the fed thru the 00's to lend down

    Greenspan says Congress pushed Fed on housing boom | Reuters

    he states the obvious, everyone knows

    tens of millions of upside down mortgages, suicidally NOT in the interests of the lending industry, is sign certain of some concerted push

    just as the fake registering of tens of thousands of fake voters in real battleground states is undeniable indication of shady designs on an organizational level at acorn

    and if it's not illegal (which faking voter reg's certainly is), it's surely NOT deserving of taxpayer funding, this parental organization, like seed and tree, of obama our president

    to be fair, the previous president has smudged his share of fingerprints on the subprime balloon which popped

    w-stands-for-what's-his-name routinely bragged about his impressive home ownership numbers, especially for minorities

    but acorn is the only interest group i've seen to openly embrace subprime methodologies

    at least barney and dead dodd have sense enough to run away

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