Gutting the Community Reinvestment Act

[hermetic]

"The Bushites are going after the few effective efforts we are still making to address poverty––from education to retirement security. Much of the monkeywrenching being done by Bush & Company takes place in the dark, quietly trying to dismantle popular programs that actually work.

For example, the Community Reinvestment Act has been a solid success in helping low-income communities get the investments and bank services they must have to revitalize their neighborhoods. This 30-year-old law has caused banks all across America to serve low-income people, channeling more than a trillion dollars into loans for small-business development and home ownership in inner cities and distressed rural towns.

Despite its proven success, Bush's laissez-faire ideologues are working hard to gut the law. Two federal agencies charged with enforcing it are proposing to exempt at least 1,000 banks, as well as many S & L lenders, from having to comply, thus abandoning entire communities most in need of opportunities for development.

To help stop this assault on the poor, call ACORN, [phone]."

Thank you Jim Hightower. http://www.jimhightower.com/print/