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Thread: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Market

  1. #231
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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by zimmer View Post
    ROTFLOL... I did not realize the government forcing banks to provide loans for houses to people that would never qualify in a market where the government didn't intrude in was called deregulation.

    Now if that is deregulation, I better check my gender.

    .
    I love how you change the issue instead of addressing what I bought up.

    Freddie Mac is a government owned enterprise-

    What is a government-sponsored enterprise?
    A government-sponsored enterprise is a shareholder-owned company created by Congress to serve a public purpose.

    source

    "Originally Fannie Mae and Freddie Mac were created by the federal government to help provide liquidity to the mortgage market."

    source

    Here is a study on the Impact Of Deregulation And Financial Innovation On Consumers
    "And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.[1][2][3] Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.[4][5]
    Obama is NOT 50 feet tall, he is ONE inch deep.
    Mark Levin

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation

    let's look at 802....

    Sec. 802.(a) The Congress finds that—
    (1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
    (2) the convenience and needs of communities include the need for credit services as well as deposit services; and
    (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
    (b) It is the purpose of this title to require each appropriate Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered
    consistent with the safe and sound operation of such institutions
    Obama is NOT 50 feet tall, he is ONE inch deep.
    Mark Levin

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    and the kicker....

    To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions (Section 804.).[6]

    If you DON'T do what we say we'll beat you with this section.
    Obama is NOT 50 feet tall, he is ONE inch deep.
    Mark Levin

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Redress View Post
    When you post something factual, I might get around to countering with facts.
    Then counter the comments on the tape. You've had plenty of time. Maybe you'll tell us it's Glenn Beck speaking.
    "Ignorance confuses. Knowledge mediates. Truth resolves." (doctorhugo)

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Amazed View Post
    The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation

    let's look at 802....

    Sec. 802.(a) The Congress finds that—
    (1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
    (2) the convenience and needs of communities include the need for credit services as well as deposit services; and
    (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
    (b) It is the purpose of this title to require each appropriate Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered
    consistent with the safe and sound operation of such institutions
    The problem with that blue highlighted section is it's an engineered loophole conceived by politicians who are hack lawyers. Try and imagine attempting to make a 'judgement' call as to what "safe and sound operation" means. It is supposed to give the impression that it means applicants must be creditworthy, so why didn't the wording come out like that? Because then it wouldn't have been a 'wiggle-room' loophole. Try and nail some creep on that wording. Never happen. Another reason for the law about "public trust" I've mentioned and making such a felony violation with a 20 yr. minimum sentence. Granted that is easier said than done as the creeps write the laws, but we must start to straighten out the system or nothing will ever change.
    "Ignorance confuses. Knowledge mediates. Truth resolves." (doctorhugo)

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Amazed View Post
    The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation

    let's look at 802....

    Sec. 802.(a) The Congress finds that—
    (1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
    (2) the convenience and needs of communities include the need for credit services as well as deposit services; and
    (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
    (b) It is the purpose of this title to require each appropriate Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered
    consistent with the safe and sound operation of such institutions
    Thanks for making my point, it is much appreciated.

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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Mr. Invisible View Post
    Exactly, this is nothing but a conspiracy theory.


    Bush blowing up the WTC would be a conspiracy theory.......this is akin to a video of Bush blowing up the towers......and the willfully ignorant remaining in denial.
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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Mr. Invisible View Post
    I love how you change the issue instead of addressing what I bought up.

    Freddie Mac is a government owned enterprise-

    What is a government-sponsored enterprise?
    ....a disaster in the making.

    In the case of Fannie and Freddie--The Largest Mortgage Underwriter in the world with 5 Trillion plus of liability at one time.....

    ....a disaster realized.
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  10. #240
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    Re: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan & Crash Stock Marke

    Quote Originally Posted by Mr. Invisible View Post
    I love how you change the issue instead of addressing what I bought up.

    Freddie Mac is a government owned enterprise-

    What is a government-sponsored enterprise?
    A government-sponsored enterprise is a shareholder-owned company created by Congress to serve a public purpose.

    source

    "Originally Fannie Mae and Freddie Mac were created by the federal government to help provide liquidity to the mortgage market."

    source

    Here is a study on the Impact Of Deregulation And Financial Innovation On Consumers
    Change the subject? I simply addressed a claim you made about deregulation sinking us. It was the government with their dumb ideas.

    And as for changing things, we got here because you came out of the blue when I directly answered the question in the OP.


    Quote Originally Posted by pbrauer View Post
    Thanks for making my point, it is much appreciated.
    "...consistent with the safe and sound operation of such institutions..." That law was neither safe, sound or sane. It was retarded and proven so. It was another welfare program that went really, really bad despite warnings.

    And here is Cuomo predicting loans would go bad.



    .
    Last edited by zimmer; 03-24-11 at 08:44 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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