Read this, try not to puke and still vote Democratic

[tbone]

http://articles.cnn.com/2000-10-10/politics/clinton.pntr_1_wto-membership-china-global-trade-regime?_s=PM:ALLPOLITICS

[Bradley G]

Things are clearer for me now, thanks :lol:

[guspech750]

Makes me sick!!


---
- Sent from my iPhone
Eaton Swap = Wreeeeeeeeeedom!!

[sailsmen]

Don't forget this one, keep in mind according to the Tres TARP will not cost any money and was not a Budget item so it did not contribute to the Debt. Fred/Fan to date ~$390Billion to the Debt. Dodd/Frank exempted Fred/Fan.

Excerpts from the Pres Clinton White House. What is says is if a bank wants to merge or add branches it must prove that it loans to the poor in the same proportion as it's market share. This was designed solely to redistribute income from those who pay back a loan to those who do not/can not.

THE WHITE HOUSE

Office of the Press Secretary





For Immediate Release December 8, 1993
PRESS BRIEFING BY SECRETARY OF THE TREASURY, LLOYD BENTSEN, ROBERT RUBIN, ASSISTANT TO THE PRESIDENT FOR ECONOMIC POLICY AND EUGENE LUDWIG, COMPTROLLER OF THE CURRENCY




An important component of that strategy is todeal with the problems of the inner city and distressed rural communities



CRA reform will generate billions of dollars innew lending and extend basic banking services to the inner cities and todistressed rural communities around the country.



I want to briefly tell you about it and how it fits into theClintonadministration's initiatives for change



make credit more readily available for smallbusiness, for small farms and distressed areas of our country.



What we're seeing is a chance for these men andwomen out there with dreams being achieved because of the access to morecredit.



We said the Clintonadministration was going to get money flowing into community developmentfinancial institutions



Passed it to ensure that banks and thrifts servedthe financial needs of their entire communities; and in particular economicallyempowered persons of low and moderate income.



It will channel billions of dollars a year in newcredit into America'sdistressed communities



We walked through South Central Los Angeles, in apredominantly minority neighborhood in New York City to see with our own eyes and tolisten with our own ears to what should be done.



to poor people in rural North Carolina and elsewhere.



this package would stimulate bank lending,investment and service in low and moderate income communities



It reduces the examination burden, particularly on smallbanks without reducing their obligation to serve their communities



target of what we're talking about here which isgetting loans and services and investments out to our communities.And the simple three tests…..Are you making loans?



but we're going to listen hard to what institutions have tosay and what the community groups have to say.



And the test is, one, are you serving low and moderate incomegeographies. In the same way, you have the same market share that you do inyour service area generally. In other words, basically are you red-line ordiscriminating against low income geographies --you'd say no; in other words,that's what the screen is about.

And number two, are your loans either disbursed throughout the lowand moderate income geographies, or are there a significant number that aretargeted in certain are



the CRA, for all its flaws, since 1977 it isgenerally agreed has increased lending in low and moderate income areas by tensof billions of dollars. We're all convinced that this is a material stepforward. So it's very safe to say billions of dollars.



the President wanted performance, not process --and that's what we've emphasized, what are the dollars -- increase in lending



Q With regard to enforcement actions for an institution that's notapplying for a merger, what specific enforcement actions might you envisionbeing taken if it's in substantial noncompliance?

MR. LUDWIG: Well, we'll have the full panoply of all ourenforcement armorarium, which includes cease and desist orders and civil moneypenalties in some cases.

Q So you could apply those, because you hadn't up until --

MR. LUDWIG: We have not, and it has not been part of theregulation. It will be part of this regulation.

Thank you very much.

[Ozark Marauder]

Most recently discovered.......It just keeps going on and on and on........ What's next? :help:



Good news! Over half a billion dollars in stimulus funding has gone towards building an electric car company and producing hundreds of manufacturing jobs!
Only problem? It's in Finland (http://abcnews.go.com/Blotter/car-company-us-loan-builds-cars-finland/story?id=14770875). :eek:
Ouch.
In a stunningly wasteful move, apparently made with no research, the Obama administration approved a loan to Fisker Karma, makers of sporty electric vehicles...that can't even be produced in the US.
Vice President Joseph Biden :shake: heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.:censor:

"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."
And what would yet another botched Obama green-jobs-stimulus measure be without cronyism...starring Mr. Green Fallacies himself:
The loan to Fisker is part of a $1 billion bet the Energy Department has made in two politically connected California-based electric carmakers producing sporty -- and pricey -- cutting-edge autos. Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore,:nono: predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware. And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.
Company executives insist they're not another Solyndra, :down: and that they've take great pains to avoid squandering funds as the failed solar panel manufacturer did:
In a lengthy interview, Fisker said he apprised the Department of Energy of his decision to assemble the high-priced Karma in Finland after he could not find an American facility that could handle the work. They signed off, he said, so long as he did not spend the federal loan money in Finland :loco: -- something he says the company has taken care to avoid. :bs:
OK, great. The company didn't spend its money in Finland. But that doesn't change the fact that the point of the exercise was, ostensibly, to create jobs in America. :banghead: If the factory itself is in Finland, then clearly the Obama administration still failed, and doled out a bad loan.
Furthermore, there is widespread speculation that the start-up car companies won't meet preset production quotas--meaning taxpayers money will have, yet again, been wasted:
Yet an audit this year by the Government Accountability Office, the investigative arm of Congress, criticized the Energy Department for not keeping close enough tabs on its fleet of auto loans -- including those to Fisker and Tesla -- to ensure they meet benchmarks. The funding was issued under the $25 billion Advanced Technology Vehicles Manufacturing loan program, one piece of a giant umbrella of DOE loans and loan guarantees going out the door.
"DOE cannot be assured that the projects are on track to deliver the vehicles as agreed," said the GAO report examining the department's ATVM program. "It also means that U.S. taxpayers do not know whether they are getting what they paid for through the loans.":blah:
Yikes. If this is Obama's idea of a good investment, I hesitate to ask what his stock portfolios look like.

[bolsen]

Wowsa!!!!!!!

[sailsmen]

Gov't NEVER has enough money.

[vkirkend]

Sorry, I don't see the issue. by not signing what would be gained?

[sailsmen]

A USA business cannot open in China unless China owns 51% and all trade secrets/technology are given to China.

It facilitated China manipulating their currency to put our mfgs at a disadvantage.

The agreement legitimized China's anti USA business practices.

In exhange they bought our debt to burden our economy. Debt repayment is dead money, it does nothing for an economy.

[nh muscle]

Democrats suck just give it all away!!

[Fosters]

Don't forget this one, keep in mind according to the Tres TARP will not cost any money and was not a Budget item so it did not contribute to the Debt. Fred/Fan to date ~$390Billion to the Debt. Dodd/Frank exempted Fred/Fan.
...

You forgot the properly named Federal Housing Enterprises Financial Safety and Soundness Act of 1992, which "It also mandated that HUD set specific goals for the government-sponsored enterprises Fannie Mae and Freddie Mac, with regard to low income and underserved housing areas."

http://en.wikipedia.org/wiki/Federal_Housing_Enterprises_Fi nancial_Safety_and_Soundness_A ct_of_1992

Lending hundreds of thousands of dollars to people that don't qualify in crappy areas? What can go wrong? Let's call this "financial safe and sound"... :lol:

Oh yeah, by the way, BUSH'S FAULT!

:lol:

[tbone]

Things are clearer for me now, thanks :lol:

I'm just trying to make clear who and what party started the economic decline of our country. Elections are near. Glad to help. :beer:

[Bradley G]

Actually the trouble started way before that, but I'm done going there.
What? you are tired of arguing with the wif,...


I'm just trying to make clear who and what party started the economic decline of our country. Elections are near. Glad to help. :beer: