Tuesday, September 30, 2008

Obama and the Community Reinvestment Act of 1977

I don't have the capability to do the research but I would like someone with the resources to find out if Obama was a "community organizer" during the 1990s when Clinton revised the Community Reinvestment Act of 1977? The Community Reinvestment Act of 1977 was revised under Bill Clinton such that banks HAD to make "risky loans." Like the "affirmative actions" quotas we have all grown to know and love, under Bill Clinton, banks had to be able to prove by numbers that they were giving loans to any and all minorities especially. Some, not all, of these loans were done without any credit history at all. Also, and Chicago was mentioned in one resource, it may be that "community organizers" also received "pay" for bringing in folks and small businesses to get what amounted to "risky loans" so that banks could prove that they were meeting their quotas. Someone please check on this and give me the links if you can find them. Thank you. Remember - what Obama and the Democrats promise to give to you has to come out of someone elses pocket. That is not fair. Let's not be so easily bought by any of our leaders. Remember, there is no "free lunch." What you or I are bought with today will be paid for by our children or grandchildren. ~~~~~~~ Well, it looks as though "ask and you will receive" paid off tonight. No sooner did I post this question than my "prayer" was answered at the Glenn Beck TV show and later on Hannity and Colmes. Obama is associated with ACORN - the ones who have been in trouble for "voter fraud" stuff. Seems Mr. Obama was hired to teach legal ways to intimidate banks into loaning more home mortgages to folks with "risky" credit. And ACORN did get hundreds of millions of dollars from the federal government to do their "work". My, what a gravy train for some "community organizers!"


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