Skip to comments.Fannie/Freddie mortgage disaster, created by Andrew Cuomo, brought us Obama’s recession
Posted on 01/19/2011 7:59:00 AM PST by jmaroneps37
.Andrew Cuomo is enjoying a 70% approval rating in his first weeks as New Yorks Governor is a clear example of how uninformed the manipulative media keeps us.
If New Yorks Republicans had fielded a genuine candidate in last Novembers Gubernatorial Election we would have learned more about the gross culpability of now Governor Andrew Cuomo in the Fannie/Freddie mortgage collapses.
Make no mistake the numbers are clear and they point directly to Cuomo and former Attorney General Janet Reno.
While Cuomo was the totally unqualified HUD Secretary during the period 1997 to 2001, he threatened the managers of Fannie and Freddie with lawsuits to be brought by the equally unqualified Janet Reno. Cuomos aim was to push to a toxic 50% the amount of bad never-should-have-happened mortgages these programs had to buy from private lenders.
As a truly delusional liberal, Cuomo decided he would right the wrongs of past discrimination against Americas minorities. He would provide minorities with affordable housing.
That the blatant in-your-face-because-you-are-a-minority type of discrimination was a thing of the past made no difference. This liberal Don Quixote soldiered on. There were votes to be purchased and federal money to buy them with so reality would not dissuade him from his self appointed mission.
Cuomo pushed his destructive plan so far and so hard that he stuck Americas taxpayers with $1 trillion in doomed to fail loans by 1999.
Bush tried, Democrats lied
On September 11, 2003 the New York Times reported it was George Bush that recommended what it called significant changes in how the financial industry [read Fannie and Freddie] should be regulated. Although they were in the minority, the Democrats were dealing with spineless Republicans not conservatives then so they killed Bushs reforms.
The damage the Cuomo/Reno vote buying scheme did
(Excerpt) Read more at coachisright.com ...
We’re never going to solve the county’s problems as long as the Democrats keep re-electing people who cause them.
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