The problem with our economy today is from a liberal thinking congress,
senators, and presidents, as well as greed and dishonesty. When you put
these together it spells disaster in any area of
our life.

* Under Jimmy Carter we received the Community Reinvestment act. This law
says banks have to make loans in low income areas and it has forced many
lending institutions to seek to make loans to people in areas that lenders
would not normally go because of the risk and low property values. (Sub
Prime Loans). This was in 1977. In 1980 president Carter and a Democratic
controlled congress passed the Depository Institutions Deregulation and
Monetary Control Act-- The law also removed the power of the Federal Reserve
Board of Governors under the Glass-Steagall Act and Regulation to set the
interest rates of savings accounts. A Sad fact is we are all still feeling
the effects of his
policies and decisions 30 years later.

http://en.wikipedia.org/wiki/Glass-Steagall_Act
http://en.wikipedia.org/wiki/Regulation_Q

* Then in 1995, Bill Clinton, (in between interns) made changes to the
Community Reinvestment Act, that forced an increase in the number of loans
to these people and the aggregate do llar amounts loaned.-- Larger loans to
people with less income in areas where the collateral value would go down
instead of up. ( Clinton should have had his mind on the long range effects
of this instead of Monica an d a good cigar.) This was in response to
pressure from "community organizer." Can you think of a former Community
organizer running for president? Hint - he's a Democrat

* In 1999 Mr. Clinton signed to repeal the Glass-Steagall act which had
protected taxpayers since the Great Depression.

* In 2003 President Bush tried to propose a change in regulatory control
over Freddie Mac and Fannie Mae and place both companies under the control
of the Department of the Treasury, but was voted down by the liberal
democrats led by Barney Frank. Remember the name Barney Frank, he is one of
Obama's top two economic advisors the other is Jim Johnson who was the head
of Freddie Mac and walked away with $24,000,000.

* Now, Mr. Obama and his liberal cronies are spinning the facts so you will
believe that all our financial problems are because of Bush's failed
economic policy. However, OBAMA'S two MOST TRUSTED ECONOMIC ADVISERS TO HIS
CAMPAIGN are the very people that were in control of Freddie Mac- Jim
Johnson $24,000,000 and Fannie Mae - (Franklin Raines $90,000,000 in 6
years).
In addition, since 1989 their have been several politicians who have
received campaign donations and kick backs from these two failed
institutions. The #1 recipient is Senator Chris Dodd-D RI and the runner up
is none other than Senator Barrack Obama who received the second largest
amount of donations (over $500,000) which is phenomenal because he has only
been in the Senate for 3 years.

When Enron went belly up, we demanded Senate hearin gs and investigations.
Why aren't the Democrats demanding the same with these companies? But, oh
yeah, I forgot. It is Bush's fault! (Yeah, Right, Sure it is).

I am Jerry Teasley, banker, and I approved this email.



--

jlrogers±³©

"Necessity is the plea for every infringement of human freedom. It is the
argument of tyrants; it is the creed of slaves." William Pitt

"Those who would give up a little freedom to get a little security shall
soon have neither." Benjamin Franklin