by Tina Grazier
By now most hard working Americans, people who regularly show up for work and pay their bills, should be quite disgusted with the state of economic affairs in our country. Weve watched from the sidelines (what else is there to do?) as our savings have dwindle and our anxieties about the future pile higher. Weve been patient, though frustrated, as our leaders fumble around in the dark for solutions and vowed silently to make it through this storm to come back even stronger. Were Americans, after all…people with determination and grit!
But some things take more than grit to overcome. They are things that cut clean across the grain of American fortitude and invention to the very heart of our existence. They tear at the security, promise and plenty of our nation; they act as a scar on our generosity and bounty. Next week we celebrate Thanksgiving…a day to be thankful; a day too, to remember that abundance is a blessing we ought not spit on. Those who pray might want to consider what Im about to share with you as you gather with your families next Thursday.
The subject of the following article is not new but the specifics found in it could make you very angry…it has me. Please follow the link tom read the entire article.
The Bank Terrorist Investors Business Daily
* Last month, he (Bruce Marks) and about 100 urban protesters stormed Fannie Mae’s headquarters, demanding it stop foreclosures on subprime houses the same homes his group pressured Fannie to fund. *** As usual, the bullying tactics worked: Fannie Mae is now reviewing every foreclosure, while increasing the number of mortgages it restructures by lowering interest rates and extending loan terms to make payments more affordable. The government-backed firm guarantees some 30% of the nation’s outstanding mortgages. *** In 2004, for example, he (Marks) threatened to blow up a merger deal between Bank of America and Fleet Bank by complaining to regulators that the banks weren’t making enough loans to minorities under the Community Reinvestment Act. The banks, in turn, paid him off with $6 billion in mortgage commitments. *** The nonprofit NACA uses such ransom money to fund its own mortgages to high-risk borrowers without requiring down payments or good credit. Marks considers such underwriting requirements “patronizing and racist.” *** He boasts that 99% of the mortgage applications taken through NACA are approved, giving new meaning to the term “easy lending.” Listen to NACA’s pitch: “Come to NACA, and regardless of how bad your credit is, regardless of how little you have saved, we will work with you for as long as it takes, until you are prepared for a mortgage better than what the wealthiest, most connected borrowers get.” *** These are the standards NACA and ACORN and other bank terrorists foisted on the banking industry, using as their cudgel the Community Reinvestment Act, which mandates (under threat of severe penalty) that banks make inner-city loans to people who can’t afford them. Now these groups have the nerve to demonize the banks for the inevitable foreclosures. *
Social activism of this type is a financial factor that will remain no matter how much this government tries to correct problems with banks, corporate heads or companies like GM. No amount of money in recovery packages or higher taxes on the rich will make a difference to our economy as long as politically correct progressive (Marxist) bullies like Bruce Marks are tolerated and encouraged to undermine the laws and procedures that the rest of us must live by every day. Ive said this kind of activism amounts to socialism and theft but its much more than that. It is a slow strangulation of every man, woman and child in America. Banks are targeted but we are all being held hostage by these activist thugs. They murder the real opportunities our society offers by selling an easy and empty alternative to the poor and in the process they murder all promise that our free republic affords to everyone…and to future generations. Our posterity will bear the real brunt of this fanatic’s contemptable destruction to our society.
The question is, how long will we put up with being held hostage in this way and can we stop it…particularly when we have just elected a man who sees such activism as the best way to move forward?