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You got that right. And I find it interesting that the very people attacking ACORN here are the same people who are against universal voter registration, which could completely do away with ACORN's voter registration program. The paranoid in the neo-cons is amazing.
You are the first person to bring it up.
But since you did, yes "Universal Voter Registration" is another ploy by the Dems to undermine the system and stack the deck in their favor using fraud as their ally.
Fitting it's mention should come in a thread concerning ACORN and all that they represent.
But since you did, yes "Universal Voter Registration" is another ploy by the Dems to undermine the system and stack the deck in their favor using fraud as their ally.
Fitting it's mention should come in a thread concerning ACORN and all that they represent.
Peas in a pod.
I would make it a lot easier to left the criminal left sign up illegal immigrants, felons and their favorite, the dead.
I thnik most people saw some of teh acorn tapes and can judge for themsleves. Besides the investiagtions arestill going on ;leagl wise. I don't think its anyhting like McCarthy really.more like the mob.
What -- other than that untrustworthy people told you to believe that -- leads you to believe that?
Everyone knew there were Soviet spies in America just as they knew there were American spies in the Soviet Union. What was wrong with McCarthyism was the out of control manner in which demogogues used that notion to attack and destroy people simply for holding different political viewpoints and opinions. People lost their heads in those days, and some have these days as well.
Gee Saggy, I guess voter registration fraud and trying to arrange federal funds for a house of prostitution to begin with. I am sure these crimes are okay in your world, but they are illegal in the rest of the US.
Hey, if you like Soviet spies, that is your treasonous perrogative. McCarthy, according to the Soviets themselves, helped ferret out fifth columnists in the government. Regarding American spies in the Soviet Unioin- WTF? We are the good guys and spying to undermine evil and international communism was a positive, not a quid pro quo between just and free countries.
[quote=Feel The Love;12357294]This is a must read!
I won't even deal with your cherry picked parts of that article but have to mention that I found these words very early in the article. "no evidence of fraudulent voting or of violations of federal financing rules by the group in the past five years."
I see only that the ACORN people weren't directly involved in fraudulent voting. I don't think they were ever accused of that but they were accused of fraudulent signing of voters who could then vote, and I bet sure did.
Also, i wonder if Esquire knows that ACORN gets its government money through AmeriCorps. Did you know that? They surely didn't violate anything when they wrote their requests for money from AmeriCorps but they managed to hide most of the rest of the money they took in.
When you learn about the Constitution from the likes of Glenn Beck....
I learned about the Constitution from years of reading it over and over and teaching about it and what it said. Many of those years were during my liberal years but I didn't see it as different than I do now.
How do you know what Beck says about the Constitution when you don't watch or listen to him?
No. ACORN is a criminal organization. McCarthyism is percieved as an unjustified persecution of an innocent victim. In later documents from the old USSR, McCarthy was correct to a great extent. There WERE many Soviet fifth columnists in America at the time.
Aw, golly, Hawk, surely there weren't any Soviet spies entrenched in our government in DC!!! THEY don't want to believe any of that information because THEY lean too far left and are willing to accept communism in the 1950s as an ok thing.
What -- other than that untrustworthy people told you to believe that -- leads you to believe that?
Everyone knew there were Soviet spies in America just as they knew there were American spies in the Soviet Union. What was wrong with McCarthyism was the out of control manner in which demogogues used that notion to attack and destroy people simply for holding different political viewpoints and opinions. People lost their heads in those days, and some have these days as well.
You are welcome to regain control of your head any time you wish.
refute one part of it then. It is 100% true and well accepted by anyone that at least barely understands economic policy...
That's a whole lot of people you presume to be able to speak for. You know there are more than 20,000 members of the American Economic Association alone. How many have you checked your theory with? How many have endorsed it? None in both cases.
Assuming the NYT article accurately represents your theory, it boils down to Clinton and Cisneros having taken some early steps toward incorporating subprime borrowers and lending into federal housing programs. That's as far as the article goes. The rest is over Mr. Cisneros' sometimes up and sometimes down career after scandal over conduct between consenting adults led him to leave government at the end of Clinton's first term. This means that he had no impact or effect after 1996. So where were we at that point?
Subprime lending had become legal in 1980. Subprime differs from prime lending in that it allows risk-based credit pricing on an individual basis, where prime borrowers are all rated as a group. Two major boosts to the young subprime industry occurred in 1982 and 1986, the first by allowing the use of variable interest rates (ARM's), balloon payments, and other such payment modifications, and the second by removing the tax deduction for all personal interest except home mortgage interest. This created an incentive to tie consumer debt of all kinds to home equity wherever possible, and of course to acquire a home at all in order to take advantage of the deduction.
Still, traditional lenders played little if any role in subprime, a sector that was dominated by the so-called finance companies, such as Household, Beneficial, and later, The Money Store. These folks made a mint by charging risk-premiums of 4-5% and adding many up-front and ongoing fees and costs. The terms of these loans were so onerous that they served as a signficant barrier to wealth accumulation in the minority and other low- to moderate-income (LMI) communities where the finance companies did most of their business.
Enter Clinton and Cisneros in 1993, and they decide to use the approval process for bank acquisitions and newly available interstate branch operations as an incentive for conformance to the 1977 Community Reinvestment Act. CRA required banks and S&L's that took federal deposit insurance to make serious efforts to lend into the communities that they took deposits from. Traditional lenders had plenty of branches in urban LMI communities.. They just lent all the proceeds to borrowers purchasing in golf course communities out in the affluent suburbs. Clinton and Cisneros forced them to look closer to home. When they did, they were shocked to find that LMI applicants were no bunch of derelicts at all. Almost half of CRA borrowers were qualified at prime terms, and nearly all the rest at Alt-A, the level just below prime. Particularly once CRA reporting was modified and enforcement stepped up in 1995, a CRA portfolio emerged that with only modest application of high-cost terms was performing better than industry averages. To CRA borrowers, all this was a boon. Those who could move out from under finance company loans and into CRA loans were saving a bundle of cash each month. Those extra funds went into new car purchases, home improvements, and landscaping projects. Property values in CRA neighborhoods began to rise and outside investment in these coimmunities increased. CRA lending, it turned out, was both good policy and good business. It was this success that Clinton and Cisneros sought to capitalize on by broadening GSE targets for securitization of minority and other LMI mortgages. It was obvious to them -- and hardly just them -- that a market sector existed that was both underserved and potentially profitable, and they sought to bring that sector into the mainstream. And at that point, the Clinton-Cisneros partnership came to an end.
Notice that a whole lot of things had not happened yet. The Asian/Russian financial crisis had not yet wiped out half of the finance company industry. Glass-Steagall had not yet been repealed. Bush-43 had not yet ceased all enforcement of CRA, further expanding the LMI credit vacuum that would be filled by aggressive private mortgage brokers such as Countrywide, Ameriquest, and New Century Financial. Tax cuts for the rich had not yet failed, leading the Fed to freeze interest rates at near-zero levels, thereby opening the door to the mechanisms that Wall Street investment banks would use to ultimately crash the system. All of that would come either later or much later on. Clinton would have a hand in a small part of it, but Cisneros in none of it at all. Ergo, your theory is simply garbage.
Quote:
Originally Posted by rd2007
I have no idea how it ever made it past the NYT censors either.
Censors? What world do you live in again?
Quote:
Originally Posted by rd2007
then ask the non-corrupt people here in SA their opinion on the cisneros. There is no shortage of hate for the fool. Only the completely ignorant and those with something to gain from him speak favorably of him.
You know, what you or anyone else in freaking San Antonio happens to think personally of Henry Cisneros is entirely irrelevant. The matter at hand was your theory that Clinton and Cisneros were responsible for bringing about the current economic crisis. That theory is total bunk from top to bottom, which is why it received and richly deserved notice as Worst Theory Ever Invented. You've done exactly nothing to relieve yourself of the burden of that label.
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