To: Lorianne
Rubbish. The problem has its genesis in the Community Reinvestment Act (Clinton) and ACORN lawsuits that blackmailed banks into giving loans to "minorities" who were grossly unqualified to repay those loans by standard measures. The "crap" mortgages created by this process were rolled into CDS and sold as if they were "solid" investments. The Democrats blocked every effort to regulate the bad mortgages and "crap" derivatives. Franks and Dodd were at the forefront of opposition to regulation. The home mortgage crash is directly traceable to this set of actions.
10 posted on
12/22/2008 8:47:11 PM PST by
Myrddin
To: Myrddin
The problem has its genesis in the Community Reinvestment Act (Clinton) and ACORN lawsuits that blackmailed banks into giving loans to "minorities" who were grossly unqualified to repay those loans by standard measures. Maybe so. The article is very biased in that it mentions the mistakes of W and his administration, but none of the Democrat's. However, the criticisms of W do seem to be accurate.
16 posted on
12/22/2008 9:00:39 PM PST by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Myrddin
34 posted on
12/23/2008 6:05:22 AM PST by
M-cubed
(Why is "Greshams Law" a law?)
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