Rudy Canoza wrote:
Rudy Canoza wrote:
That's simply a lie.

Corrupt bankers call it a lie.
Honest bankers call it the truth.

No one called it the truth. It's a lie. You're the only person who has
every said it.

If you want to tell an honest
banker from a corrupt banker just
ask about the Community Reinvestment Act.

There is nothing new in the concept that
banks must meet the credit needs
of the community that supplies the deposits.
And it is well understood that when Banks
take deposits from a community and make loans
elsewhere the bank is siphoning off the wealth
of the depositors.

Andrew Jackson understood this concept and
that is why he shut down the 2nd Bank of the
United States in the 1830's. The understood
that the bank was taking deposits from the
entire nation but funneling the credit into
where the bankers lived.

Congress understood the concept when it created
the Federal Reserve system. Congress did not
want one central bank because they understood
that the central bankers would extend credit as
a means to funnel wealth from the rest of
the nation into the central bankers' back yard.

Honest bankers understand that it is their
duty to lend in the community where they
collect deposits because to do otherwise
would be stealing the wealth of
the depositors.

Dishonest bankers make up lying stories about CRA,
because they don't want anything to stand in the way
of their larceny.