Childish!!!!!
They would not mention that Obama had actually sued Citibank to force them to make more bad loans to minorities. It is a bad sign when politicians force bankers to make loans, it is worse when left-wing activists have been enabled to do so...
http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/
Wrong. The low interest rate wasn't the problem with subprime's, it was the NO DOC or LOW DOC process pushed by Congress that insured loans to unqualified buyers who vote 80% democrat.
Nah...it’s easier to blame it on Bush....
When is the old gray whore going to finally do her last trick?
So in answer to the question, "Why would anyone give someone a mortgage who couldn't pait it back?" Simple, they could sell it the next day to Fannie Mae (or Freddie).
Two words—Barney Frankenwhine
The democrats guilt is coming out....
From the article:
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."From the perspective of many people, including me, this is another thrift industry growing up around us," said Peter Wallison a resident fellow at the American Enterprise Institute. "If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry."
In James Taranto's phrase, "Two papers in one!" ;-)
>>The Times reports that in 2006, 17.5% of white homeowners got subprime (below the prevailing interest rate) mortgages, compared to 52.8% of blacks and 44.9% of Hispanics.<<
I wonder how many members of Congress got subprime loans and how many defaulted.
All of this started with Fannie (both) and was instigated and pressured by Congress (Democratic Congress - hey give those poor folks loans). It’s just too bad that the press refuse to print the truth even as our government goes down with the economy.
I guess that they think that as long as they support the right side (left to them) that they will overcome...heh. Boy, are they in for a surprise. Well, maybe not since they will be bankrupt before the government...