One Guy's Opinion on the Political Scene By: Jim Herndon
Irony of ironies. Democrat politicians passed the Community Reinvestment Act requiring banks to make high-risk loans to minorities, Clinton reinforced the act during his term, and Democrat congressmen such as Chris Dodd, and Banking Queen Barney Frank defended the bad loans as generosity to those poor souls who should have a home just like anyone else.
They guaranteed that the fraudulent Freddie Mac and Ginnie May were healthy and solvent. Naturally, the fraudulent pair made every loan possible since they were backed by taxpayer money. Ultimately, the house of cards collapsed when millions of these bad loans forfeited and started our slide into economic misery. Now those legal lizard politicians, Dodd, Frank, and others are doing the things at which they are so adept: shifting the blame and confusing the issue. Abetted by the biased press that has mainly avoided any critical investigation of the issue, the DemPols, also great opportunists, used it all to their advantage. They see our financial problems as a way to fatten their treasure by proclaiming themselves saviors who will lead our country back to health, and, in the bargain, get their hands on millions of taxpayer dollars and throw it around to their special interest groups.
The cat is saving the mouse.
