Did Entitlement Laws Create Crisis?

Have US entitlement laws and regulations
created the world economic crisis?

The problem with creating economic distress is that it upsets the people affected and they want to find out what happened, why and who’s responsible. Now that the media feels betrayed (and broke), they are doing some in-depth investigating of the collapse with outrage and coming up with some interesting information.

Referencing a report made by the Capital Research Center, World Net Daily reports that the community activist group, NACA, ‘led by a self-described “banking terrorist” applied bullying tactics to secure high-risk mortgages and to shake down lending institutions for billions of dollars – actions that likely contributed to the "mortgage meltdown" that triggered the worst economic crisis since the Great Depression.’

In 1995, President Bill Clinton, using “The Community Reinvestment Act” , forced banks to prove they were making loans to low income neighborhoods. President Clinton also encouraged community activist groups like NACA to file complaints and lawsuits against the banks.

A few incredibly interesting facts:

President Jimmy Carter in 1977, signed into law the Community Reinvestment Act, which directly contradicts free enterprise and capitalism as well as promotes entitlements, all in the name of Civil Rights.

Community activist group, NACA’s first two lawsuits against mortgage lenders made them $500 million; less attorneys fees. They targeted Countrywide Bank in 2007; by 2008, Countrywide was insolvent.

The Capital Research Center or CRC ‘analyzes organizations that promote the growth of government and identifies viable private alternatives to government regulatory and entitlement programs’.

Our government blaming banks and businesses for the economic crisis is the greatest hypocrisy of our generation. Fewer people are buying this proposal, yet everyone agrees it began in the United States. Accusing the rich for the world’s problems has been popular for years; now our government is offering them protection for their crimes. The cost for government protection: complete control.

Our President has grasped the limitless importance of using community activist groups to influence people and business in order to achieve his goals. Why else would his Presidential campaign fund contribute $800,000 to ACORN? I don't think we've seen anything yet, but it's coming.

I have finally come to realize the importance of community activist organizations in relation to politics and government; they are private alternatives to government regulations and entitlement programs.


I wonder
If US government entitlement laws and regulations have created the world economic crisis, what will happen to America now that they are investing trillions more in entitlements and expanding social programs worldwide?


but, as always, I could be wrong...

Denney Crane