USFREEDOM911
MAKE AMERICA GREAT AGAIN
You didn't get your award, in the mail?
Retard of the Month
- Thread starter BRUTALITOPS
- Start date
You didn't get your award, in the mail?
Minister of Truth
Practically Perfect
Hey, dumbfuck. Two of our members are outright communists. Watermark would have you arrested for being too far to the right. Would you call that carrying water (irony) for the right?
I choose not to look at it that way.
Oh, right.
Of course you will ALWAYS be a forum retard, just not THE forum retard.
You will always have retard runnerup.
Can't take that away from you.
You should get retard of the month just for this post.
He was pisskop at first.
PostmodernProphet
fully immersed in faith..
I should beat you with a hobbit stick......
PostmodernProphet
fully immersed in faith..
never heard of her......
cancel2 2022
Canceled
Well if we employed your logic then we are in the 20th not the 21st century!
evince
Truthmatters
he is not my responsibility you fucking idiot.
You mass of tars on the right here lie all day fucking long.
You back Ideas that have already repeatedly failed this country.
you back them with fucking lies.
then you all claim your not really republicans
we know how you fucks vote.
we see your spewings all day long.
you vote republican no mater what fucking lies you blurt out here
Minister of Truth
Practically Perfect
I am a Republican. Grind is not - never has been. Billy is not. Watermark wants to arrest you for being too conservative. Rose is also a Marxist. Brent is just weird, any way you look at him... But we're all secretly Republicans. Dumbfuck.
Defeat Daesh.
evince
Truthmatters
series: facts republicans ignore, state level preditory lending rules were blocked
http://economistsview.typepad.com/ec...level-pre.html
Thursday, February 14, 2008
State Level Predatory Lending Rules Were Blocked
Eliot Spitzer says some states tried to pass rules to limit predatory lending, but the Bush administration blocked the efforts:
Predatory Lenders' Partner in Crime: How the Bush Administration Stopped the States From Stepping In to Help Consumers, by Eliot Spitzer, Commentary, Washington Post: Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. ... These ... practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets. ...
Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices.
What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? ... Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents...
The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks..., an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers.
In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.
But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration... In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation.
Throughout our battles with the OCC and the banks, the mantra of the banks and their defenders was that efforts to curb predatory lending would deny access to credit to the very consumers the states were trying to protect. But the curbs we sought on predatory and unfair lending would have in no way jeopardized access to the legitimate credit... Instead, they would have stopped the scourge of predatory lending practices that have resulted in countless thousands of consumers losing their homes and put our economy in a precarious position.
When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits.
http://economistsview.typepad.com/ec...level-pre.html
Thursday, February 14, 2008
State Level Predatory Lending Rules Were Blocked
Eliot Spitzer says some states tried to pass rules to limit predatory lending, but the Bush administration blocked the efforts:
Predatory Lenders' Partner in Crime: How the Bush Administration Stopped the States From Stepping In to Help Consumers, by Eliot Spitzer, Commentary, Washington Post: Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. ... These ... practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets. ...
Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices.
What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? ... Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents...
The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks..., an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers.
In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.
But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration... In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation.
Throughout our battles with the OCC and the banks, the mantra of the banks and their defenders was that efforts to curb predatory lending would deny access to credit to the very consumers the states were trying to protect. But the curbs we sought on predatory and unfair lending would have in no way jeopardized access to the legitimate credit... Instead, they would have stopped the scourge of predatory lending practices that have resulted in countless thousands of consumers losing their homes and put our economy in a precarious position.
When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits.
Minister of Truth
Practically Perfect
A failsafe way to avoid predatory loans is to not take out loans if you are not financially secure. And do some fucking homework on the interwebs.
Minister of Truth
Practically Perfect
Because we won the Civil War, you traitor.
evince
Truthmatters
you fucking racists did not win
Minister of Truth
Practically Perfect
You fucking traitors did not win. Davis, Stevens, and the rest of the Democratic leadership were defeated.
Even the racists are getting more than you are, huh?