Special interest groups
Cry Wolf Quotes
…we object to the bill on the ground that there is no limitation of interest to be charged to home owners by agencies that enjoy the benefit of the act at the expense of all taxpayers, including the victimized home owners.
Any review of the history of the affordable mortgage movement in America demonstrates the power that CRA had in helping to shred mortgage underwriting standards throughout the industry and exposing us to the kind of market meltdown we've experienced. “If form follows, soon banks and other financial institutions operating under CRA will be cudgeled into lending to small businesses based on race and gender, which will be the opening of a new round of lower lending standards in the very risky small-business sector. The effort to save and extend CRA in the face of its role in the mortgage market's massive meltdown is testament to the unique power of this legislation to nourish an entire industry of nonprofits that, like Acorn, have been reliable supporters of politicians such as Barney Frank, Maxine Waters and a former community organizer and associate of Acorn by the name of Barack Obama.
The Sarbanes bill will hand American corporations back to the trial lawyers for summary execution.
...we remind you that unemployment compensation is not a poverty program. Some claimants have substantial assets. For example, 1979 income tax records reflect more than 1 ½ million tax returns reporting adjusted gross income of $20,000 or higher and also receipt of unemployment compensation. Moreover, when unemployment benefits are combined with other income-support programs, some claimants actually come out better than when they were working.
