posted on 07/27/2010 2:35:31 AM PDT
Clinton Attorney General Janet Reno, using the anti-redlining statute -- the Community Reinvestment Act -- relentlessly pressured banks to make loans to "the underserved." But the banks could not make enough subprime mortgage loans to satisfy our lawmakers unless the federal government bought the loans they originated. That's where Fannie and Freddie came in.
The root of the meltdown in a nutshell......why this doesn't fly in the face of the "It's Bush's fault" 'rats is beyond me....info that needs to be hammered constantly.
posted on 07/27/2010 2:44:55 AM PDT
(It's not the Obama Administration....it's the "Obama Regime".)
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