[hiredhand]

I am not a "big volume" poster here on FreeRepublic, but these are notes which were derived from the "MouthPeace" video, which (IMHO) was too fast, and had just too much information in it. If you just couldn't sit through the 10 minute video that was bumped by Jim Rob, then review these notes. I hope this helps to clarify the massive deceit which is currently taking place in D.C.

[hiredhand]

Ping...

[alice_in_bubbaland]

Bump for later

[TorgsinsDepot]

This is nothing more than creeping socialism.

[Thank You Rush]

“”I hope this helps to clarify the massive deceit which is currently taking place in D.C.””

I’m sure I heard Obama say in the debate last night that the Clinton administration tried to rein in some of these lenders....was news to me. No timeline I read says anything of the sort - only the opposite. Wonder why McCain didn’t pick up on it.

[rockinqsranch]

Yours is a good post with much accuracy of historical content defining the cause of the debacle. Thank You for the posting.

[ArchAngel1983]

”Affordable housing? After CRA expansion, housing prices increased a LOT. Did this make housing affordable for low income borrowers?”

Democrat math (2 + 2 = the square root of pi)

[Brad’s Gramma]

Placemarker...thanks, hiredhand.

[joanie-f]

Hiredhand, my hat is off to you for all of the painstaking research that was involved in your post -- I especially appreciate your citing how many times the administration, and individual republican legislators, attempted to make Fannie Mae and Freddie Mac more accountable, and the fact that the democrats stopped those efforts in their tracks every time.

How many American voters do you suppose are aware of those pieces of recent history? I'd estimate probably 1 in 100. And we have the mainstream media to thank for that.

~ joanie

[21twelve]

“No money! No money down! Interest only! Low variable rate! No income verification! Bad credit? No credit?”

*****

Thanks for the post. On some other thread someone thought that the Graham Bill allowing regular banks to make riskier investments to make more money was more of a cause. Obviously it is a big factor as well.

However - when a bank is FORCED to NOT make money (as with the CRA) on its normal business (loans at a naturally competitive rate) - it obviously needs to make up the loss somewhere else.

[TruthWillWin]

In 1995 the Clinton administration authorized subprime loans under the CRA. Democrats added these provisions for the securitization of subprime loans and then ENFORCED the lending to high risk individuals. By 2000, one trillion dollars had been loaned to subprime borrowers.

You need to add some of this information after that sentence:

How A Clinton-Era Rule Rewrite Made Subprime Crisis Inevitable

Explains changes Clinton made in 1997 that caused CRA loans to expand considerable with Fannie Mae/Freddy Mac taking all the risk. Ground zero for the current mess we are in.