Expand CRA?

[T_Won]

I think these people are trying to destroy our nation on purpose! (seriously). They almost took us down with the Community Reinvestment Act of 1977.... ALMOST. We had to pay billions to bailout the banks. Now, they want to EXPAND it!!!

http://www.gather.com/viewArticle.ac...59174697241980

"The White House and Congress want to expand a 30-year-old law--the Community Reinvestment Act--that helped to fuel the mortgage meltdown. What the CRA does, in effect, is compel banks to seek the permission of community activists to get regulatory approval for bank expansions and mergers. Often this means striking a deal with activist groups such as ACORN or unions like the Service Employees International Union (SEIU) and agreeing to allocate credit to poor and minority areas that are underserved. . ."

[hoppinmad]

I think these people are trying to destroy our nation on purpose! (seriously). They almost took us down with the Community Reinvestment Act of 1977.... ALMOST. We had to pay billions to bailout the banks. Now, they want to EXPAND it!!!

http://www.gather.com/viewArticle.ac...59174697241980

"The White House and Congress want to expand a 30-year-old law--the Community Reinvestment Act--that helped to fuel the mortgage meltdown. What the CRA does, in effect, is compel banks to seek the permission of community activists to get regulatory approval for bank expansions and mergers. Often this means striking a deal with activist groups such as ACORN or unions like the Service Employees International Union (SEIU) and agreeing to allocate credit to poor and minority areas that are underserved. . ."

Yep, redistributing income comes cloaked in many different disguises. Makes one wonder what they'll do when the well's dry?

[JuBru]

Then banks need to stop expanding and merging! Bump down to local levels!