The offical position of the CRA does not require any bank to lower their standards to loan. If however banks fail the CRA loaning test,they hinder growth or merger possibilities.

Where is the tie between Acorn and the Fed? Acorn’s efforts and on a local basis, the Fed, made it possible for the Fed to later step in and “legitimately” withhold credit. This precipitated the halt of all but “very secure” lending. The corporate banks had been betrayed. The Fed used the coherced bank lending as a tool to manipulate a senario that excused them as they shocked our economic system, declaring insolvency and threating action against these “irresponsible” banks.

Behind all of this we see, I believe, was the Fed motive. That is, to assure their involvement in our economy and the interest it pays them for decades or more. Billions upon billions.

Pres. Carter and his double digit inflation birthed the CRA, enforced by the Federal Reserve! The CRA was an ideal tool for the Fed to manipulate our banking system.

As a side note, not too long afterward immigration standards were lowered and borders were left unsecured. Clinton tilted the population ballance by advising the INS to fast track applications for citizenship. These and many more since became the people that needed subprime loans.

Since Carter our nation was talking about getting rid of the Fed and the IRS, via a flat tax or a fair tax and still is. You might remember the IRS stepped back from it’s tactics about 20 years ago because people were real upset with them. That was to desensitize us into forgetting about them. It seems the Fed began planning a way to secure their position. Collapse the economy by withholding credit and have a man in place to spend (borrow) his way out of it. Hide behind his known motivations, maybe even a “closet” socialist who wants big government and can take the blame. Flood the view with urgent and costly legislation to distract all, stur emotions against the banks and those accepting bailout funds, knowing the banks will tighten lending standards to protect themselves, from the Fed, while appearing to be the “stingy bad guys” to the public! All the while, the Fed and their machinations are being hidden from public view. Meanwhile our government has indebted us so deeply, the Fed is now secure for decades.

Finding a tangible thread between the Fed and Acorn, financial or advisory leading to financial, would seal the deal against the Fed and explain the perfect storm that has overcome us. It is out there somewhere.

The offical position of the CRA does not require any bank to lower their standards to loan. If however banks fail the CRA loaning test,they hinder growth or merger possibilities.

Where is the tie between Acorn and the Fed? Acorn’s efforts made it possible for the Fed to step in and “legitimately” withhold credit. This precipitated the halt of all but “very secure” lending. The corporate banks had been betrayed. The Fed used the coherced bank lending as an excuse to shock our economic system, declaring insolvency and threating action against these “irresponsible” banks.

Behind all of this was, I believe, the Fed motive. That is, to assure their involvement in our economy and the interest it pays them for decades or more.

Carter and his double digit inflation birthed the CRA, enforced by the Federal Reserve! Our nation was talking about getting rid of the Fed via a flat tax or a fair tax and still is. You might remember the IRS stepped back from it’s tactics about 20 years ago because people were real upset with them. That was to desensitize us into forgetting about them. The Fed began planning a way to secure their position. Collapse the economy and have a man in place to spend (borrow) his way out of it. Hide behind his known motivations, maybe even a “closet” socialist who wants big government. Flood the view with urgent and costly legislation to distract all, stur emotions against the banks and those accepting bailout funds, knowing the banks will tighten lending standards to protect themselves, from the Fed, while appearing to be the “stingy bad guys” to the public! All the while, the Fed and their machinations are being hidden from public view. Meanwhile we have indebted ourselves so deeply, the Fed is now secure for decades. Finding a tangible thread between the Fed and Acorn, financial or advisory leading to financial, would seal the deal against the Fed. It is out there somewhere.