Saturday, February 02, 2008

Problem...Housing CRISIS; Solution...More GOVERNMENT

All across this putrid land of Amerikkka, people have been evicted from their homes. By the millions, they waste in the gutters and sewers, their rotting corpses providing food for bloated corporate pigs to feast on, and for zionist bankers to repeatedly rape over and over and over and over.

Do I exaggerate? No, I am understating the horrors of bank foreclosures.

Understand this and never forget: A contract is intended to help the people. And when the banks say that people are "bound" to "contractual obligations" like paying "interest" at "mutually agreed upon" "rates", then that, friends, is all the proof I need to demonstrate that the Nazis were never in fact defeated by the heros of the Soviet Union, but are instead alive and well, and "lending" money to home owners in Amerikkka.

Fortunately, there is a short term solution. (The long term solution, of course, involving the dragging the capitalists into the streets and shooting them like the vultures they are.)

In 1977, Amerikkka's finest President, Jimmy Carter, signed the Community Reinvestment Act.

The Community Reinvestment Act (CRA) was established by Congress in 1977. The Act requires that deposit-taking financial institutions offer equal access to lending, investment and services to all those in an institution's geographic assessment area-at least three to five miles from each branch. In the case of large banks with many branches, the geographic area may encompass an entire county or even a state.

Before the CRA, many bankers excluded low-income neighborhoods and people of color from their lending products, investments, and financial services - a practice known as "redlining". Community activists coined the term when they discovered that the failure of banks to make loans in some low-income neighborhoods was so geographically distinct, that it was easy to draw red lines on maps to delineate the practices.

In the 1970s, activists in Chicago and across the country brought strong pressure on banks to lend equitably to all those in their communities. Since its passage, the CRA has been used across the United States to win tens of billions of dollars in new lending, investments, and services for communities. The National Community Reinvestment Coalition tracks more than $1 trillion dollars in community reinvestment pledges nationally. These pledges are explicit investments in equitable development goals, and finance many tools in this toolkit.

Friends, we need better enforcement of the Community Reinvestment Act (and more Nobel prizes for President Jimmy Carter).

We need to force the banks to lend more money to people of low-income and people of color.

And we especially need to lend money to people with no money and no credit, for they will be the underpinning of our new Socialist State.

And we must allow the loan recipients to repay the loans on their terms, and not according to some racist "contract".

More government is better government.

2 comments:

Lillian Fletcher said...

June 17, 2009

Great stuff! I just really love your refreshing attitudes and outlook on the situation of poverty as we know it to exist!,
especially coming from someone of such high estate, such as yourself, given in that your kind uaually look down on others who are in generally straitened positions and down on their luck.

If more people thought the way you did in this everly increasing and overbearingly rancid cesspool of a world we live in, we'd all be much better off for it!

Unfortunately, though, societal mores dictate that pwople who find themselves in dire straits are to
always somehow to 'blame for their unfortunate circumstances, and,deemed less than worthy of a helping hand-what a load of bull!!

Keep up the good works, Prof!
Lillian Fletcher and Brian Hall
e-mail address lillianfletcher@rocketmail.com

Blogger said...

QUANTUM BINARY SIGNALS

Professional trading signals delivered to your mobile phone daily.

Follow our trades right now and profit up to 270% a day.

Palestine Blogs - The Gazette Subscribe in Bloglines