In 1994, then President Bill Clinton was responsible for overhauling the mortgage industrys lending policies. One of those provisions was to outlaw redlining practices. Clinton also forced the mortgage companies to lower their lending requirements so more people could secure a mortgage and supposedly own their own homes...it can not be repeated often enough - this is the very basis of the great economic calamity of 2007 and 2008 - when the housing bubble created by these practices and the hyped derivitives built on these mortgages finally collapsed - when Obama and other 'rats yap about not wanting to return to the terrible policies of the past which led to our almost ruined economy, these are the policies they are talking about - they are the people they claim to dislike most - if Republicans don't get all over this, they really are brain-dead.......
To: Intolerant in NJ
posted on 06/16/2012 9:41:16 PM PDT
(Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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