In the interest of the redistribution of wealth, the left proposed and passed the Community Reinvestment Act. It was designed for low income buyers to have an opportunity to purchase a home, by making available lower requirement mortgages.
The passage of this bill, and it's modifications, put pressure on lenders to finance less than qualified applicants, and was likely the single biggest factor in the present economic downfall. Don't get me wrong, it had nothing but the best of intentions, but there is always a tipping point. You have to know when enough is enough! Ultimately we achieved too much of a good thing, and now the results are in.....
On top of decimating the economy, home ownership is now lower than it was back in 1960. I think that speaks for itself. Now we'll spend the rest of the day listening to the real important news, the non-stop reporting of the break-up of Levi Johnson and Bristol Palin. Thank goodness the media is on top of the important issues!
God Bless!
Capt. Bill
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Are you saying that there something more important then knowing what's going on with
ReplyDeleteLevi Johnson and Bristol Palin oh yeah there's Britney, Jay-Z, Sandra Bullock,
Cameron Diaz, Jennifer Aniston,
WAIT!!
what about AMERICAN idol?? I have to know what's going on there that's a life changer.
How can I have time to read a book when there's so many important thing's going on.
What!!
what did bill congress pasted and the did what tell me later I'm having a T.V. party tonight.
Thank you for your time.
...............................I MAN