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| Dec 09, 2008 1:06 pm |
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re: re: re: re: Merrill CEO bonus is 'shocking' |
Scott Wolpow
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Frank did cause the initail problem under Clinton. But the reasons were good. The goals was for the poor to become landowners and to build equity.
In lower income areas, the rent is higher per square foot than middle class areas.
In the 70's Brooklyn and teh Bronx were REDLINED, meaning no person could get a mortage.
Carter was the first to pass rules easing the requiremenst of lending to those areas.
However, by the sames laws to protect the minorities and poor, were used to expand those loans under Clinton.
No one complained when people got jobs in the construction boom. No one comaplaimed when they got jobs that spun off.
No one compalined when capital was so cheap that it could be thrown ar silly concepts like Napster, that gave money to people to develop Ryze.
We all benefitted from it and supported it, now we have to pay the price. I just want those running the comapnies to suffer like we did and only reward them if they do a good job.Private Reply to Scott Wolpow (new win) |
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