That's simply a lie.

Rudy Canoza wrote:
That's simply a lie.

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

The purpose of CRA is to discourage
corrupt bankers from siphoning off the wealth
of depositors.

Corrupt Bankers that refuse to lend where the
deposits come from and instead lend to
where the the banker lives are draining
the wealth of the depositors in order
to enrich the banker and his community.

Honest bankers make loans in the community
that supplies the deposits. They have
no problem with CRA.

Credit unions are exempt from CRA because
all their credit is extended only to the depositors

On Friday, May 29, 2015 at 3:56:50 PM UTC-7, Rudy Canoza wrote:
That's simply a lie.

Jonathan Ball's entire life is a lie. That's why he's an anonymous posting pussy.

On 5/29/2015 4:34 PM, "jim " 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.

Stop lying.

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.

On 5/30/2015 5:46 AM, "jim " wrote:
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.

Ha ha ha ha ha!

There is nothing new in the concept that
banks must meet the credit needs
of the community that supplies the deposits.

Stop lying. Communities don't supply deposits - account holders do, and
the mere fact they deposit money doesn't entitle them to mortgage loans.

Rudy Canoza wrote:
On 5/30/2015 5:46 AM, "jim " wrote:
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.

Ha ha ha ha ha!

That is really the reason Sen William Proxmire
introduced and got the Community Reinvestment Act
passed by Congress.

The only thing the law requires is for bank
regulators to determine the extent to which each
deposit facility is lending back to the same
community that supply the deposits.

Why is it important for regulators to make
this determination? Because that's how
you tell the honest bankers from the corrupt ones.


There is nothing new in the concept that
banks must meet the credit needs
of the community that supplies the deposits.

Stop lying. Communities don't supply deposits - account holders do, and
the mere fact they deposit money doesn't entitle them to mortgage loans.

You are the one who keeps lying.
There is nothing in the CRA statute
that entitles anyone to a loan.

Credit Unions make loans only to their depositors.
But that doesn't mean any particular depositor is
entitled to a loan.

Studies have shown that mortgage loans
made by deposit facilities during the
housing bubble inside their service area
performed better than loans made outside
the area.

On 5/30/2015 9:01 AM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 5:46 AM, "jim " wrote:
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.

Ha ha ha ha ha!

That is really the reason Sen William Proxmire
introduced and got the Community Reinvestment Act
passed by Congress.

He did it because race-baiting leftists lied and said "redlining" was
going on.

The only thing the law requires is for bank
regulators to determine the extent to which each
deposit facility is lending back to the same
community that supply the deposits.

The law forces banks and non-bank mortgage originators to make risky
loans to deadbeats. This is settled.

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

Yes, it did. We use exogenous variation in banks' incentives to
conform to the standards of the Community Reinvestment Act (CRA)
around regulatory exam dates to trace out the effect of the CRA on
lending activity. Our empirical strategy compares lending behavior
of banks undergoing CRA exams within a given census tract in a given
month to the behavior of banks operating in the same census
tract-month that do not face these exams. We find that adherence to
the act led to riskier lending by banks: in the six quarters
surrounding the CRA exams lending is elevated on average by about 5
percent every quarter and loans in these quarters default by about
15 percent more often. These patterns are accentuated in
CRA-eligible census tracts and are concentrated among large banks.
The effects are strongest during the time period when the market for
private securitization was booming.

http://www.nber.org/papers/w18609

"Securitization" - what the GSEs were doing, thus making the CRA that
much worse.

Rudy Canoza wrote:
On 5/30/2015 9:01 AM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 5:46 AM, "jim " wrote:
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.

Ha ha ha ha ha!

That is really the reason Sen William Proxmire
introduced and got the Community Reinvestment Act
passed by Congress.

He did it because race-baiting leftists lied and said "redlining" was
going on.

Its not about race. The Civil Rights Act
requires banks to not discriminate based
on race. The Community Reinvestment Act
is designed to protect the property interests
of depositors from corrupt bankers.

Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt, was the
Home Mortgage Disclosure Act. HMDA was a law that
required banks to report annually where they were
making loans. This was the first step in discovering who
were the corrupt bankers. In particular it
helps protect blue collar depositors.

In 1977 Sen Proxmire said:
"In 1975 Congress passed the Home Mortgage Disclosure
Act, requiring financial institutions just to disclose where
home mortgage loans are made.

The use of that data has been quite extensive. The New York
papers have had a very elaborate series of stories on the amount
of disinvestments in New York pointing out that about
11 percent of the money deposited in Brooklyn remains and
89 percent is invested elsewhere.

In the District of Columbia we find about 90 percent of the
money is invested outside of the community where the money
is deposited. Chicago has an enormous amount of disinvestments;
in California, the data and details flowing from our legislation
show that Los Angeles has suffered a great deal of disinvestments;
St. Louis has massive disinvestments; Indianapolis is the same way;
and in Cleveland, the Cleveland Plain Dealer had a series of stories
pointing out this very serious problem, and highlighting the fact that
this is something that is undoubtedly contributing or has contributed
for a long time to the decay of the city.

Therefore, the committee included title IV to reaffirm that banks
and thrift institutions are indeed chartered to serve the convenience
and needs of their communities, and as the hill makes clear,
convenience and needs does not just mean drive-in teller windows
and Christmas club accounts. It means loans."

On 5/30/2015 12:05 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 9:01 AM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 5:46 AM, "jim " wrote:
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.

Ha ha ha ha ha!

That is really the reason Sen William Proxmire
introduced and got the Community Reinvestment Act
passed by Congress.

He did it because race-baiting leftists lied and said "redlining" was
going on.

Its not about race.

Actually, it is.

Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt,

Stop lying. That was not the purpose.

Rudy Canoza wrote:


Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt,

Stop lying. That was not the purpose.


"In 1975 Congress passed the Home Mortgage Disclosure
Act, requiring financial institutions just to disclose where
home mortgage loans are made. "

After HMDA was passed, the game was up for
corrupt bankers. They could no longer hide
their larceny.

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

What he really meant was that it was "theft":

"The use of that [HMDA] data has been quite extensive. The New
York papers have had a very elaborate series of stories on the
amount of disinvestments in New York pointing out that about
11 percent of the money deposited in Brooklyn remains and
89 percent is invested elsewhere.

In the District of Columbia we find about 90 percent of the
money is invested outside of the community where the money
is deposited. Chicago has an enormous amount of disinvestments;
in California, the data and details flowing from our legislation
show that Los Angeles has suffered a great deal of disinvestments;
St. Louis has massive disinvestments; Indianapolis is the same way;
and in Cleveland, the Cleveland Plain Dealer had a series of stories
pointing out this very serious problem, and highlighting the fact that
this is something that is undoubtedly contributing or has contributed
for a long time to the decay of the city."

This theft by corrupt bankers had been going on
for decades, draining the wealth from urban blue collar
workers to enrich the corrupt bankers.

On 5/30/2015 1:49 PM, "jim " wrote:
Rudy Canoza wrote:


Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt,

Stop lying. That was not the purpose.


"In 1975 Congress passed the Home Mortgage Disclosure
Act

So, not the CRA. Stop lying.

On 5/30/2015 1:49 PM, "jim " wrote:

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

Proxmire could have called it Italian opera or mumbletypeg. Proxmire
didn't know a thing about banking or business or investment.

"Communities" don't have credit needs. Individual person have credit
wants. The fact that they make deposits in banks doesn't entitle them
to credit.

CRA led to bad lending, especially after Clinton started imposing
bad-loan minimum quotas on banks, and that was the opening to the real
estate bubble.

Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:
Rudy Canoza wrote:


Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt,

Stop lying. That was not the purpose.


"In 1975 Congress passed the Home Mortgage Disclosure
Act

It was the first step in exposing corrupt
bankers.


"In 1975 Congress passed the Home Mortgage Disclosure
Act, requiring financial institutions just to disclose where
home mortgage loans are made. "

After HMDA was passed, the game was up for
corrupt bankers. They could no longer hide
their larceny.

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

What he really meant was that it was "theft":

Here is what Proxmire said:
"The use of that [HMDA] data has been quite extensive. The New
York papers have had a very elaborate series of stories on the
amount of disinvestments in New York pointing out that about
11 percent of the money deposited in Brooklyn remains and
89 percent is invested elsewhere.

In the District of Columbia we find about 90 percent of the
money is invested outside of the community where the money
is deposited. Chicago has an enormous amount of disinvestments;
in California, the data and details flowing from our legislation
show that Los Angeles has suffered a great deal of disinvestments;
St. Louis has massive disinvestments; Indianapolis is the same way;
and in Cleveland, the Cleveland Plain Dealer had a series of stories
pointing out this very serious problem, and highlighting the fact that
this is something that is undoubtedly contributing or has contributed
for a long time to the decay of the city."

This theft by corrupt bankers had been going on
for decades, draining the wealth from urban blue collar
workers to enrich the corrupt bankers.

Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

Proxmire could have called it theft


Yes he should have called it stealing because that
is what it is.

Here is what Proxmire said:
"The use of that [HMDA] data has been quite extensive. The New
York papers have had a very elaborate series of stories on the
amount of disinvestments in New York pointing out that about
11 percent of the money deposited in Brooklyn remains and
89 percent is invested elsewhere.

In the District of Columbia we find about 90 percent of the
money is invested outside of the community where the money
is deposited. Chicago has an enormous amount of disinvestments;
in California, the data and details flowing from our legislation
show that Los Angeles has suffered a great deal of disinvestments;
St. Louis has massive disinvestments; Indianapolis is the same way;
and in Cleveland, the Cleveland Plain Dealer had a series of stories
pointing out this very serious problem, and highlighting the fact that
this is something that is undoubtedly contributing or has contributed
for a long time to the decay of the city."

This theft by corrupt bankers had been going on
for decades, draining the wealth from urban blue collar
workers to enrich the corrupt bankers.

On 5/30/2015 5:05 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:
Rudy Canoza wrote:


Sen Proxmire was very clever.
The original law that he sponsored designed
to find out which bankers were corrupt,

Stop lying. That was not the purpose.


"In 1975 Congress passed the Home Mortgage Disclosure
Act

So, not the CRA. Stop lying.

It was the

It wasn't the CRA.

"In 1975 Congress passed the Home Mortgage Disclosure
Act

Not the CRA. You failed.

The CRA forced banks to write bad mortgages. Refusing to write bad
mortgages is not stealing from depositors, nor is is corruption.

CRA was only about malcontent minorities demanding "rights" that they
didn't have.

On 5/30/2015 5:09 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

Proxmire could have called it Italian opera or mumbletypeg. Proxmire
didn't know a thing about banking or business or investment.

Yes he should have called it stealing because

No, because refusing to write ****ty mortgages isn't stealing, nor is it
corruption.

The CRA itself mandated stealing from depositors.

Rudy Canoza wrote:
On 5/30/2015 5:09 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

Proxmire could have called it Italian opera or mumbletypeg. Proxmire
didn't know a thing about banking or business or investment.

Yes he should have called it stealing because

No, because refusing to write ****ty mortgages isn't stealing, nor is it
corruption.

The CRA itself mandated stealing from depositors.


That is the lie that corrupt bankers tell.

CRA never mandated any loans. If a banker
wants to take deposits in a community and make
loans elsewhere he can. What CRA does is
make sure the depositors are informed.

On 5/30/2015 5:27 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 5:09 PM, "jim " wrote:
Rudy Canoza wrote:
On 5/30/2015 1:49 PM, "jim " wrote:

When banks take deposits in one community
and then make loans in the bankers community
Sen Proxmire called it "disinvestment"

Proxmire could have called it Italian opera or mumbletypeg. Proxmire
didn't know a thing about banking or business or investment.

Yes he should have called it stealing because

No, because refusing to write ****ty mortgages isn't stealing, nor is it
corruption.

The CRA itself mandated stealing from depositors.


That is the lie that

It's not a lie. Your garbage about "stealing from depositors" and
"honest bankers" is a lie.