Fannie Mae Eases Credit To Aid Mortgage Lending

New York Times ^ | September 30, 1999 | Steven A. Holmes

[beejaa]

"...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 and felt pressure from stock holders to maintain its phenomenal growth in profits...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."

[beejaa]

This is an old article from "The New York Times" which needs publicity at a time when politicians are rushing to blame one party or another for our economic calamity.

[jrestrepo]

Save for reference.

[XHogPilot]

Democrat fingerprints are all over the financial crisis

[SunkenCiv]

Note: this topic is from 10/03/2008. Thanks beejaa.