you think palin was the worst republicans had to offer. think again.

[trendlover]

"During a House hearing on Thursday, Rep. Michele Bachmann pinned blame for financial crisis on President Clinton, “blacks,” and “other minorities.” To make her point, she read from an article written by Terry Jones in the right-wing publication Investor’s Business Daily. Jones criticized the Community Reinvestment Act (CRA) and said Clinton was misguided for pushing “homeownership as a way to open the door for blacks and other minorities to enter the middle class.” Watch Bachmann’s speech, followed by sharp criticism from Rep. Keith Ellison (D-MN) here.

In a new letter to House Minority Leader John Boehner (R-OH) obtained by ThinkProgress, 31 members of the Congressional Black Caucus (CBC) call Bachmann’s claims “ridiculous” and ask Boehner whether her comments represent the views of the Republican Caucus:

It is clear from Rep. Bachmann’s comments that she believes that the bipartisan laws enacted over the past decade ensuring that minority communities have equal access to banking and other financial services are the cause of this financial situation. [...]

There is no evidence to support Rep. Bachmann’s assertion that “minorities” caused the current financial crisis. Laws designed to open opportunities for equal access to credit do not require banks or thrifts to make loans that are unsafe or unprofitable. In fact, laws like the CRA mandate exactly the opposite. [...] Additionally, research clearly shows that the majority of the predatory loans that have led us to this financial mess were originated by non-bank financial institutions and other entities that did NOT have a CRA obligation and lacked strong federal regulatory oversight. Shifting the blame for the current economic crisis to laws that allow equal access and opportunities to communities of color is ridiculous.

As members of the CBC, we simply ask if Rep. Bachmann’s position that it was lending to minority communities that caused the current financial crisis, represent the position of Republican Caucus?"
http://thinkprogress.org/politics/2008/09/27/29884/cbc-bachmann/
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And this is a letter to Senator Menendez from the Federal Reserve board.

http://menendez.senate.gov/pdf/112508ResponsefromBernankeonCRA.pdf

 

[Max E.]

Where is the speech? Lets see just how sensationalist this headline is, funny how you just proved my point. Now Bachmann is a racist for saying we should not have been pushing loans to minorities who couldnt afford them, just for the sake of giving loans to minorities. These idiots are making it out as if she said the housing problem was because of minorities..... Not only that, i guarantee they butchered the speech, to suit their agenda, lets see the transcript.

Where is the transcript of the speech?

Quote from trendlover:

"During a House hearing on Thursday, Rep. Michele Bachmann pinned blame for financial crisis on President Clinton, “blacks,” and “other minorities.” To make her point, she read from an article written by Terry Jones in the right-wing publication Investor’s Business Daily. Jones criticized the Community Reinvestment Act (CRA) and said Clinton was misguided for pushing “homeownership as a way to open the door for blacks and other minorities to enter the middle class.” Watch Bachmann’s speech, followed by sharp criticism from Rep. Keith Ellison (D-MN) here.

In a new letter to House Minority Leader John Boehner (R-OH) obtained by ThinkProgress, 31 members of the Congressional Black Caucus (CBC) call Bachmann’s claims “ridiculous” and ask Boehner whether her comments represent the views of the Republican Caucus:

It is clear from Rep. Bachmann’s comments that she believes that the bipartisan laws enacted over the past decade ensuring that minority communities have equal access to banking and other financial services are the cause of this financial situation. [...]

There is no evidence to support Rep. Bachmann’s assertion that “minorities” caused the current financial crisis. Laws designed to open opportunities for equal access to credit do not require banks or thrifts to make loans that are unsafe or unprofitable. In fact, laws like the CRA mandate exactly the opposite. [...] Additionally, research clearly shows that the majority of the predatory loans that have led us to this financial mess were originated by non-bank financial institutions and other entities that did NOT have a CRA obligation and lacked strong federal regulatory oversight. Shifting the blame for the current economic crisis to laws that allow equal access and opportunities to communities of color is ridiculous.

As members of the CBC, we simply ask if Rep. Bachmann’s position that it was lending to minority communities that caused the current financial crisis, represent the position of Republican Caucus?"
http://thinkprogress.org/politics/2008/09/27/29884/cbc-bachmann/
----------------------------------------------------------------------------------


And this is a letter to Senator Menendez from the Federal Reserve board.

http://menendez.senate.gov/pdf/112508ResponsefromBernankeonCRA.pdf

 

[Max E.]

This has to be the ultimate fuck up by you guys on the left. On the very same thread I am arguing about the fact that the left wing media makes phony cries of racism/sexism, and brutally attacks the right on these issues, this guy Trendlover comes out of nowhere, with something from "thinkprogress" which claims Michelle Bachmann is a racist, for saying that they should not have pushed home loans to underserving applicants based on skin color.

WHERE IS THE TRANSCRIPT?

 

[trendlover]

Quote from Max E. Pad:

Where is the speech? Lets see just how sensationalist this headline is, funny how you just proved my point. Now Bachmann is a racist for saying we should not have been pushing loans to minorities who couldnt afford them, just for the sake of giving loans to minorities. These idiots are making it out as if she said the housing problem was because of minorities..... Not only that, i guarantee they butchered the speech, to suit their agenda, lets see the transcript.

Where is the transcript of the speech?

----------------------------------------------------------------------------------


You are saying "racist", not me. I am saying she talk and blame minorities and the CRA for the financial crisis from the one article she read, but no due dilligence for her. She follow her party talking point, and not really care if is truth in what she say.


Investing InsightsCommunity Reinvestment Act had nothing to do with subprime crisis
Posted by: Aaron Pressman on September 29, 2008

"Fresh off the false and politicized attack on Fannie Mae and Freddie Mac, today we’re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act — a 30-year-old law that was actually weakened by the Bush administration just as the worst lending wave began. This is even more ridiculous than blaming Freddie and Fannie.

The Community Reinvestment Act, passed in 1977, requires banks to lend in the low-income neighborhoods where they take deposits. Just the idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly. But it’s even more ridiculous when you consider that most subprime loans were made by firms that aren’t subject to the CRA. University of Michigan law professor Michael Barr testified back in February before the House Committee on Financial Services that 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations. As former Fed Governor Ned Gramlich said in an August, 2007, speech shortly before he passed away: “In the subprime market where we badly need supervision, a majority of loans are made with very little supervision. It is like a city with a murder law, but no cops on the beat."
http://www.businessweek.com/investi...t_had_nothing_to_do_with_subprime_crisis.html
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On this link you can listen to her. On this link too they say this:



"The number of financial institutions involved in the proposed Wall Street bailout and subprime mortgage default-swapping that even applied for CRA credit is low. Of the big names, Bear-Stearns, AIG, CitiGroup, Washington Mutual, UBS of Switzerland and Nomura of Japan weren’t subject to CRA regulations. In addition, as the economics of the housing market shifted, many of the subprime loans generated were made by mortgage brokers who are not subject to CRA."

http://minnesotaindependent.com/107...for-economic-crisis-does-not-mean-im-a-racist

 

[Max E.]

Quote from trendlover:

You are saying "racist", not me. I am saying she talk and blame minorities and the CRA for the financial crisis from the one article she read, but no due dilligence for her. She follow her party talking point, and not really care if is truth in what she say.

Yeah, now you decide to play possum, because you got called out for being a fucking idiot. You linked repeatedly to sites that had to do with Bachmann being a racist, and now you say "hey its not me making these allegations" Atleast if you want to be a moron and make phony allegations have the balls to stand up for it.

Gabfly1 surely, you must find these false allegations embarrasing, trendlover just demonstrated perfectly the kind of horseshit that goes on with the left.

Here is the video of Bachmann's speech that Trendlover is trying to imply is racist. If anyone can find racism in this they are a fucking idiot.

<object width="640" height="390"><param name="movie" value="http://www.youtube.com/v/4DHuxHyafyM&hl=en_US&feature=player_embedded&version=3"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/4DHuxHyafyM&hl=en_US&feature=player_embedded&version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></embed></object>

 

[Artful D0dger]

were did yew lurn tew speyul? in sawth dekota? i wunder if sum of them republikenz krischenz cud outspeyul yew? LOL!!!

Quote from Free Thinker:

hey dumb ass. .........................that makes her relevent.................. popular amoung religious wackos .............

 

[trendlover]

Quote from Max E. Pad:

Here is the video of Bachmann's speech that Trendlover is trying to imply is racist. If you can find racism in this you are a fucking idiot.

<object width="640" height="390"><param name="movie" value="http://www.youtube.com/v/4DHuxHyafyM&hl=en_US&feature=player_embedded&version=3"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/4DHuxHyafyM&hl=en_US&feature=player_embedded&version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></embed></object> [/QUOTE----------------------------------------------------------------------------------------------

I do not say she is racist. That is a lie. I hear her say she think this is good to help the minoritys and the low income people to have loans if they can afford this. I am saying she blame the CRA and money to minoritys for the financial crisis only to follow her party talking point. I show you on the links how much of this crisis loans is not from CRA. The letter to Senator Menendez say no "empirical" evidence for that.

And this too from the other link:

" University of Michigan law professor Michael Barr testified back in February before the House Committee on Financial Services that 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations. As former Fed Governor Ned Gramlich said in an August, 2007, speech shortly before he passed away: “In the subprime market where we badly need supervision, a majority of loans are made with very little supervision. It is like a city with a murder law, but no cops on the beat.”

 

[Max E.]

Quote from trendlover:

I do not say she is racist. That is a lie.

Yeah you just innocently posted this headline(seen below).....You are a tool buddy and im done with you, anyone who cant see what you tried to do is probably just as stupid/cowardly as you, so there is no point in wasting anymore time, i called you out, and have already proven that you are simply a far left race hustler. If i saw this horseshit, and i was a viewer of "think progress", i would sure as hell be questioning whether a lying site like that was a place i wanted to go to.

Quote from trendlover:

"During a House hearing on Thursday, Rep. Michele Bachmann pinned blame for financial crisis on President Clinton, “blacks,” and “other minorities.”

 

[trendlover]

Quote from Max E. Pad:

Yeah you just innocently posted this headline(seen below).....You are a tool buddy and im done with you, anyone who cant see what you tried to do is probably just as stupid/cowardly as you, so there is no point in wasting anymore time, i called you out, and have already proven that you are simply a far left race hustler.

----------------------------------------------------------------------------------

You are wrong. I do not think she is racist. I think she is dishonest or not caring to do due diligence for her blame to the financial crisis. She read the common talking point of her party. This talking point is prove false many times.
You are rude from your answer to me, so I am not talking to you too. I am not "buddy" too.

 

[bigarrow]

Quote from Max E. Pad:

How much do you want to put on the fact that bachmann wont win the republican nomination???? Name a price.

How about we bet your pay check from McDonalds ?