Decent history of the housing crisis and the impact of CRA

Re: Community Reinvestment Act from Wikipedia. Scary words if you are bank president… The CRA mandates that each banking institution be evaluated to determine if it has met the credit needs of its entire community. …regulations for the CRA were strengthened by focusing the financial regulators’ attention on institutions’ performance in helping to meet communityContinue reading “Decent history of the housing crisis and the impact of CRA”

Who is working for us and who is lining their pockets?

Let’s let the congressional record speak for itself.http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190Note the “Reform act of 2005”. Comment dated May 25, 2006.The most significant statement… If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economyContinue reading “Who is working for us and who is lining their pockets?”

Electricity comes from…thin air…and oil!

It would seem that the Democrats believe that electricity comes from thin air. They continue to pick winners and losers in this energy crisis. They have obviously decided that oil and natural gas, stagnant in the ground, is the loser and electricity and food for energy is the winner.I simply do not understand it. OilContinue reading “Electricity comes from…thin air…and oil!”

60% dependant on foreign oil is not acceptable.

We do not need to “lessen our dependence on foreign oil” we need to “eliminate” our dependence on foreign oil. These dribs and drabs of 5% here and 3% there are useless and only serve to distract from the problem. Politicians want you to believe that they are doing something. Moving from 70% dependent toContinue reading “60% dependant on foreign oil is not acceptable.”