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Posted by: engineer 1 year, 5 months ago
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nostalgia1 year, 5 months ago
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This mess goes back to the Financial Services Competition Act of 1999
CONGRESSIONAL RECORD: Extensions of Remarks HON. SHEILA JACKSON-LEE
Today I rise in support of H.R. 10, the Financial Services Competition Act of 1999
Today's vote represents groundbreaking financial services legislation that would dismantle many of the depression era laws currently hindering the financial services industry from engaging in a modern global marketplace.
CRA is a success story. Between 1993 and 1997, the number of home purchase loans to African Americans soared 62%; Hispanics saw an increase of 58 percent, Asian Americans nearly 30%; and loans to Native Americans increased by 25%
In Congress, we have spent more than twenty years debating how to update the Nation's antiquated banking laws that prohibit banks, securities firms and insurance companies from entering into another's businesses.
http://64.233.167.104/search?q=cache:BbjQwpXE_U...
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nostalgia1 year, 5 months ago
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Do you think a single member of Congress who supported the extension of these loans will now step up to the plate and acknowledge they helped create this mess?
These are the very same people who today are condemning what went on and act like they had no part in the problem
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bubba21 year, 5 months ago
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"This mess" was created by the BUSH ADMINISTRATION!
Approaching ONE TRILLION DOLLARS spent on an unjustified war, all of that money borrowed from Asian countries, the lousy value of the dollar which only fuels inflation, throwing money away on no-bid contracts for work that is shoddy or not even completed ... ALL of that occurred during the last SEVEN years.
When Clinton left office, the annual budget was at a SURPLUS, and the national debt was only 3-4 Trillion dollars. NOW the national debt is NINE Trillion dollars.
It is painfully obvious that the mess has piled up since January 21, 2001.
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nostalgia1 year, 5 months ago
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Bubba
Why is it so difficult to admit that both sides are responsible for this mess?? Do some reading about the Financial Services Competition Act of 1999 that started this housing meltdown. Go see who supported it
As far as the Clinton "surplus" that was the typical creative accounting used in Washington
I doubt that you would support what it would take to actually balance the budget
Are you even paying attention to the spending bills being considered in the Democratic congress right now? Are you seeing any glimmer of fiscal restraint?
Have you read about the Global Poverty Act which will cost $845 billion over the next 13 yrs?
Obama is proud of this legislation
Spare me your concern about the national debt when Democrats are spending as much or more than Republicans
If we don't get rid of the ENTIRE House and Senate, nothing will change
Yet people like you will continue to support anyone as long as they have a "D" after their names.
You are part of the problem
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