[Chode]

do I really have to say it???

[DTogo]

Why all the intolerance here towards minorities, and people with less-than-stellar credit ratings?

/sarc

[Typical_Whitey]

Spin baby Spin, Obama and the Democrats complicit in this whole mess but the Media holds them blameless and ques in on Bush... Americans are hypnotized by the Pravda and by their new Messiah who they belive can do no wrong.

This will never get reported in the Main stream..

[Virginia Ridgerunner]

Of IMMEDIATE interest..............!

[XR7]

BTTT

[Virginia Ridgerunner]

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

Just damn...

[Boiling Pots]

It’s still McCain’s fault.

[P-Marlowe]

So it only took 9 years for political correctness to bankrupt the country.

Can we have a do over?

Are there still tea boats in boston harbor?

[My Favorite Headache]

Clinton again...back where we started from with FR.

[Antoninus]

Jim, these are phenomenal articles you're posting. What I want to know is WHY HASN'T ANYONE ELSE IN THE MEDIA PICKED UP ON THIS YET!?!?!?

I know the answer, but it's frustrating as hell to watch this unfold. I pray to God that Rush and the rest of the Conservative media raise enough of a stink about this next week to force the leftwing media to take notice.

They should be on the defensive BIG TIME here.

[Old Professer]

Bush’s fault. McCain knew better. Palin was still in high school and Joe Biden was undergoing cranial surgery. B.H. Obama was on sabbatical writing his memoirs in anticipation of his resurrection and Dick Morris was up to his eyebrows in toejam.

Clinton was in the washroom reading the instructions on a bottle of Shout...

[antonia]

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

[DBrow]

No, no, no! It’s free market capitalism that got us into this mess, and more fiddling with economic factors will get us out!

Hoover set this up, Roosevelt enabled it, Clinton misused it, and Bush used Roosevelt as inspiration for this bailout.

[RockinRight]

racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.

Tell me one thing...how does a COMPUTER discriminate based on race?

[Brian S. Fitzgerald]

But many, Democrat and Republican alike bought into it.

[rockinqsranch]

“Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people....”

The problem began in 1977 with the Dem Congress passing CRA, and President Jimmy Carter signing CRA into law. It was a controversial law at the time that actually had more negative feedback against it than existed positive points for it, but the Dems utilized the only Pro CRA report provided by Boston Fed to proceed with the legislation IIRC.

Seems the Mortgage Industry managed to get around the law for 18 years until the Clinton misAdministration forced them to comply with the very bad legislation that is the CRA.

The article “Assault On The Mortgage Industry” from Dec. of 1993 at National Review by Robert Stowe England picks up at the point of the Clinton Administrations coercement of the Mortgage Industry. It’s informative reading for all concerned. Here’s the link:

http://findarticles.com/p/articles/mi_m1282/is_n25_v45/ai_14779796

[Excuse_My_Bellicosity]

I love how Congress calls the mortgage lenders racist, browbeats them into giving shady loans to people who would never normally qualify, then covers the loans with Fannie and Freddy. Then that same Congress goes on a self-righteous rant about "predatory lenders" when the whole thing crashes.

This is so typical of Democrap administrations: enact shady schemes, then accuse the Republicans of all kinds of corruption and mismanagement because the scheme collapses during their tenure.

[traviskicks]

No worries, the Republicans in Congress and the Republican President and Republican Presidential candidate will steal our money to fix the mess created by the liberals.

[Munz]

So when they go broke AGAIN and we have to bail them out AGAIN who can we thank?

[Silly]

Like, wow.