Written in 2000!<br><br>It's a relatively long article, but worth a read - and to pay particular attention to the impact of "community groups" such as ACORN and NACA on the situation.<br><br>Oh, and who is Chief Financial Advisor for the Obama campaign?<br><br>The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities<br><br>Howard Husock <br><br>The Clinton administration has turned the Community Reinvestment Act, a once-obscure and lightly enforced banking regulation law, into one of the most powerful mandates shaping American cities—and, as Senate Banking Committee chairman Phil Gramm memorably put it, a vast extortion scheme against the nation's banks. Under its provisions, U.S. banks have committed nearly $1 trillion for inner-city and low-income mortgages and real estate development projects, most of it funneled through a nationwide network of left-wing community groups, intent, in some cases, on teaching their low-income clients that the financial system is their enemy and, implicitly, that government, rather than their own striving, is the key to their well-being.<br><br><br><br><br><br><br>keep the change<br><br>
I’ll keep my freedom, my guns and my money – you can keep the change.
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