<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f6202ade-abd7-4e1f-83a3-da563aef2d40/84DF17FC-53EB-4F17-9625-9223444ED47C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.humanevents.com/article.php?id=21141" href="http://www.humanevents.com/article.php?id=21141" style="font-size: 11px;">www.humanevents.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.humanevents.com/article.php?id=21141">Schumer’s bill condescends to the middle-class voters worried about housing market woes. Using concerns about subprime loans for lower income homebuyers as a pretext, the bill treats all families like basket cases and assumes that they are incapable of choosing the home loan that fits their needs. While the message Schumer repeats in his book is "it's the middle class, stupid." the message underlying his paternalistic <A target="_blank" href="http://www.schumer.senate.gov/SchumerWebsite/pressroom/record.cfm?id=273525">Borrower’s Protection Act of 2007</A> is "the middle class are stupid."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.humanevents.com/article.php?id=21141">Schumer and fellow Democratic senators</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.humanevents.com/article.php?id=21141">go beyond the widely shared-goals of improving disclosure</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.humanevents.com/article.php?id=21141"> the bill bans banks and other mortgage lenders from issuing loans that the government deems as “unsuitable” </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.humanevents.com/article.php?id=21141"><DIV>The irony is that liberal Democrats like Frank and Schumer used to complain that lenders weren’t providing enough credit, particularly to underserved communities. They pushed through quotas and mandates like the Community Reinvestment Act, forcing banks to provide loans to those with higher credit risks. </DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/84DF17FC-53EB-4F17-9625-9223444ED47C/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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