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Video: Senator Ayotte Delivers Weekly GOP Address, Discusses “Fiscal Cliff”

usmcgpw Wrote: Nov 19, 2012 1:23 AM
1 of 11 Racist Lies Republicans Tell to Avoid Blaming Wall Street for the Financial Crisis. The Community Reinvestment Act was a liberal boondoggle designed to con banks into funding housing for undeserving, unqualified minorities. False. The CRA of 1977 was the result of decades of disinvestment in poor and working-class neighborhoods. It was designed to put an end to "red-lining" -- a widespread practice in which banks refused to write mortgages for houses in certain neighborhoods, no matter who was applying or how creditworthy they were.
usmcgpw Wrote: Nov 19, 2012 1:23 AM
The Fair Housing Act of 1968 had made it illegal for real estate agents and banks to discriminate against homeowners on the basis of race. Red-lining emerged as a subtle way to continue this discrimination, by declaring, certain neighborhoods as unfit to invest in. By 1977, the results of this practice were becoming too obvious, so Congress stepped and gave lenders a choice: if you want the FDIC to insure your deposits, STOP the redlining.

The CRA didn't force lenders to make riskier loans. It required they take each applicant on his own merits and give people in poorer neighborhoods the same chance at a mortgage that everybody else in town was getting. It wasn't about preferential treatment. It was about equality.

“We’ve had a spirited debate this year about the future of our country,” New Hampshire Senator Kelly Ayotte explained on Saturday during this week's GOP address. “The American people expect Republicans and Democrats to work together to solve the difficult challenges we face. For too long partisan bickering has paralyzed Washington, preventing members of both parties from reaching across the aisle to find common ground. That must stop.” Watch the full clip below:

“Tax reform that eliminates wasteful tax preferences to generate revenue will help bring fairness and efficiency to our tax...