The Desert Rat And The Burning Bush

The Associated Press: Reid blames Bush, Wall Street for sick economy

Well, he can’t very well blame it on the Bossanova, and he sure ain’t gonna point the finger at the real culprit–the Community Reinvestment Act, passed by the 95th Congress in 1977, and signed into law by President Jimmy Carter.  There’s fault enough to go around,  and a lot of it does fall on Dubya and the Street, but for the Rat to deny any culpability is an example of prevarication at its finest.  After all, he’s been burrowed into Congress for 24 years.

The Community Reinvestment Act:

And how it caused the housing bubble and the collapse of the economy:

About Bob Mack

Retired since 2003. Military Service: U.S. Army, 36th Artillery Group, Babenhausen, Germany 1966-67; 1st Signal Brigade, Republic of Vietnam, 1967-68 Attended University of Miami, 1969-73
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