Special interest groups
Cry Wolf Quotes
The class-action bill would open a happy hunting preserve to ambitious lawyers with a quick eye for the plump bird. They are not likely to be much concerned with fraud in the ghetto: No money there. But has a major manufacturer gotten a little too exuberant in his advertising? Has he promised a ‘benefit’ that may not be fully deliverable? Well, then, let us find 10 customers ready to say they’ve been damaged, and let us sue in the name of 10,000 more.
Proposition F Sticks it to Neighborhood Businesses….Like kids in a candy store, our Supervisors never tire of gobbling up every bad idea that some special interest group dangles before them, particularly when it means hurting productive people who pay taxes.
Any review of the history of the affordable mortgage movement in America demonstrates the power that CRA had in helping to shred mortgage underwriting standards throughout the industry and exposing us to the kind of market meltdown we've experienced. “If form follows, soon banks and other financial institutions operating under CRA will be cudgeled into lending to small businesses based on race and gender, which will be the opening of a new round of lower lending standards in the very risky small-business sector. The effort to save and extend CRA in the face of its role in the mortgage market's massive meltdown is testament to the unique power of this legislation to nourish an entire industry of nonprofits that, like Acorn, have been reliable supporters of politicians such as Barney Frank, Maxine Waters and a former community organizer and associate of Acorn by the name of Barack Obama.
CRA has enabled special interest groups to collect billions of dollars from banks under agreements that are kept secret. Even the citizens that these groups purport to represent have no way of knowing how the groups spend the money they get from banks. That s why I hope the Senate will approve a sunshine amendment that will add accountability to this process and bring these agreements into, the light of day.
