Monday, September 29, 2008

Why We Are Having The Credit Crisis?

Start here, the Community Reinvestment Act...
The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law that requires banks and savings and loan associations to offer credit throughout their entire market area and prohibits them from targeting only wealthier neighborhoods with their services, a practice known as "redlining." The purpose of the CRA is to provide credit, including home ownership opportunities to under-served populations and commercial loans to small businesses. It has been subjected to important regulatory revisions.

Let me see if I can simplify that, the C.R.A. requires banks to give mortgages to poor people.

The hell you say?!?
The new rules, during a time when many banks were merging and needed to pass the CRA review process to do so, substantially increased the number and aggregate amount of loans to low- and moderate-income borrowers for home loans, some of which were "risky mortgages."

Lets look at some video, shall we...

And one more, just for fun.

Saturday, September 27, 2008

How To Get A Grass Roots Campaign Going 101

Pay People!

"Grassroots"... that word does not mean what you think it means.

Monday, September 22, 2008

Why We Are Having A Financial Melt Down

Lenders were "encouraged" to lend to those who can not afford the payments. Throw on top of that lenders thinking those making the rules are "family".

Sunday, September 21, 2008

Legal Issues For The Obama Campaign?

My Pet Jawa has the whole thing but of course I found out about it from Ace.

Anti-Palin Astroturfing Traced Directly to Obama-Connected PR Firm
Update: Rusty Uploading His Copy Now

Obama Connected PR Firm Produces, Uploads Lying Anti-Palin Ad on YouTube, Then Pushes it Virally as "Grassroots" Effort; PR Exec Sockpuppets Praise Video for "Getting the Truth Out;" Company Employee Uploads it On Democratic Underground and Urges Readers to Send it Out to Ten People Each

It is Ace... so consider this your content warning.

Just so you know, I am still alive, just life getting in the way of posting.

Also, Andrew lost a tooth earlier today.