The predatory lending industry had a partner in the White House

[Crewleader]

I posted this late last night and I too was once a moderator and always operated in the open....I believe this belongs in this forum...I think most would agree...anyway I will try again.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=125x238197


http://www.brasschecktv.com/page/291.html?ref=patrick.net

[dixiegrrrrl]

1. Thank you for this.

[Crewleader]

2. To all in this forum... along with you dixiegrrrl

Thank you for all you do! :thumbsup:

[JohnWxy]

3. I couldn't agree more! see link:

Predatory Lenders' Partner in Crime - How the Bush Admin Stopped the States From Helping Borrowers

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x58162


REcommended!

for those not inclined to click on links a (very brief) summary:

Conservatives like to say Clinton's push for more use of the Community Reinvestment Act is what "caused" the credit meltdown. Bull! As Spitzer's testimony points out Cheney-Rove administration actually fought efforts to reign in predatory lending which had little to nothing to do with the CRA.

50 States Attorneys General were trying to use state consumer protection laws to reign in predatory lenders but the Office of the Comptroller of the Currency stopped then and even filed suit in Federal courts to stop Eliot Richardson's investigation of predatory lenders in NY!!!

Now what was the purpose of protecting predatory lenders. I guess it was just delivering what they were paid for.

[formercia]

4. The real terrorists

Financial terrorists.

[Mnemosyne]

5. KnR for more visibility. n/t