[Liz]

REFERENCE Clinton appointee Andrew Cuomo's Social Engineering as HUD Chief Contributed to Subprime Crisis / originally published on Examiner.com

New Yorkers voted Andrew Cuomo as governor---but Cuomo's gargantuan political ambitions know no bounds.

As Americans continue to struggle with the loss of their homes, savings and retirement resources, thieving/opportunistic politicans that were complicit in deregulating govt sponsored enterprises (GSEs) in the secondary market----namely Fannie Mae and Freddie Mac---that caused the subprime loan bomb to detonate---are still jockeying for power.

BACKSTORY In 1993 President Bill Clinton appointed Andrew Cuomo to the Department of Housing and Urban Development (HUD) as Assistant Secretary.In 1997 Cuomo took over as HUD chief replacing Clinton appointee Henry Cisneros. Latino Cisneros tenure championed Clinton's goal of social engineering via the housing market forcing lenders to issue loans to those that would not financially qualify for standard-laden lending.

Cisneros left office in a scandal involving lying to the FBI over payouts to a mistress, Cisneros subsequently pleaded guilty to a misdemeanor and though never sent to prison received a pardon from Bill Clinton in 2001.

Andrew Cuomo took the HUD reins and not only furthered Cisneros and Clinton's policies but greatly expanded them.

Henry Cisneros moved the GSEs toward a requirement that 42 percent of their mortgages serve low and moderate income families. Andrew Cuomo raised that number to 50 percent and dramatically hiked GSE mandates to buy mortgages for the "very- low-income."

These bad loans were purchased and sold throughout the secondary market and the pyramid grew and the bottom collapsed resulting in the subprime crisis we are still reeling from today.c

In 2008, the Village Voice published a compelling report detailing Andrew Cuomo's policy decisions "that gave birth to the country's current crisis."

The report touched on how Cuomo's 187-page rules "opened the door to abuse." The rules explicitly rejected the idea of imposing any new reporting requirements on the GSEs. In other words, HUD wanted Fannie and Freddie to buy risky loans, but the department didn't want to hear just how risky they were.

Many New York voters are failing to see the actual harm to the minority community directly caused by Cuomo's policies...matter.

Cuomo's top HUD aide said, "We believe that there are a lot of loans to black Americans that could be safely purchased by Fannie Mae and Freddie Mac if these companies were more flexible."

Andrew Cuomo doubled down and had this to say about his HUD standards, "GSE presence in the subprime market could be of significant benefit to lower-income families, minorities, and families living in underserved areas."

How's that working out for the minority community, where foreclosures and unemployment rates have hit the hardest as a result of such failed policies and blatant social engineering?

[Liz]

Who is funding the N/P parasites pushing for tax-paid freebies? Read on.

L/E should rigorously investigate the latino criminal uderworld running endless "non-profits" sucking up tax dollars to push a racist agenda. Corrupt parasites undermining the US political system. Govt documents were surely falsified to hide the corrupt use of tax dollars. L/E might find the latino underworld doled out tax funds to finance drug habits, sex romps, free eats/travel, posh vacations, and other outrageous conduct.

Hispanic Federation honchos--Roberto Ramirez (left) and Luis Miranda--have a BIG $$$ecret.

The Hispanic Federation has numerous existing ties to latino crime family nonprofits---corrupt political machines.

Twi$ted web of political nonprofits in Bronx, NY / By CANDICE M. GIOVE; w/ Isabel Vincent and Melissa Klein

EXCLUSIVE The dating life of Assemblywoman Naomi Rivera (ousted from office by voters) has shed light on a web of Latino nonprofits in The Bronx — groups that benefit a close-knit network of political insiders as much as the community.

Rivera installed a boyfriend, Vincent Pinela, as head of the Bronx Council for Economic Development, a taxpayer-funded nonprofit he admits being unqualified to run. He alleges she used the group to fund their dates and her campaign.

But the Bronx economic council is only one nonprofit of many organized under the Hispanic Federation, which has taken in $24 million in taxpayer money since 1998. The federation has ties to almost every Hispanic lawmaker in The Bronx, including Rivera, but primarily benefits two men: political strategist Luis Miranda, who co-founded it and once served as its president, and Roberto Ramirez, a former Bronx Democratic Party boss. The men run a private political consulting firm, the MirRam Group. It’s paid by the Hispanic Federation and is hired by politicians who steer taxpayer money to the nonprofit.

A NY Post investigation has found:

<><><>* The Hispanic Federation paid MirRam and Miranda Towns, a firm registered to Miranda and his wife, $681,644 between 1999 and 2008 for “consulting,” records show.

<><><>* In 2005, the federation paid MirRam $88,000 to survey Latinos on topics including the mayor’s race. At the same time, MirRam was paid $1.37 million by Fernando Ferrer, then a mayoral candidate.

<><><>* Ramirez and Miranda gave political allies jobs at the nonprofit. Ex-Secretary of State Lorraine Cortez Vazquez, who had been Ramirez’s chief of staff, made more than $180,000 a year there.

<><><>* The Hispanic Federation paid MirRam $33,000 this year to lobby the City Council, records show.

<><><>* The group often pays out small amounts, from $400 to $800, to individuals without detailing why on official documents as required by law. A source in the group said these are sometimes payments for favor. "I have to pay a lady who is bringing latino seniors to a political event,” the source said. “They promised to send the lady to the Dominican Republic with her family in exchange for rounding up votes.” An Hispanic Federation spokesman lied---and said the payments were for families of victims of American Airlines Flight 587, which crashed in Queens in 2001, or "other people in need."

Miranda launched the Hispanic Federation in 1990, the year Ramirez won an Assembly seat in Fordham. Ramirez left politics in 2000 and handed the party reins to Assemblyman José Rivera, father of sexpot Naomi, in 2002. Insiders say that if you want influence in The Bronx, you have to deal with the Hispanic Federation and, by extension, MirRam consultants. Nonprofits, for instance, pay the Hispanic Federation to do their bookkeeping.

Rivera's Bronx Economic Development council was charged $12,000 a year for Hispanic Federation services according toher boytoy Pinela. Every year, the federation throws a fund-raising gala packed with politicians---a bash at the Waldorf-Astoria last Apri1 brought out mayoral hopefuls City Council Speaker Christine Quinn and Bill Thompson and New York Giant Victor Cruz.

But the blurring of a nonprofit and a consultant group means there’s little or no accountability, said the source inside the Hispanic Federation. “If we were helping the Little League around the corner to get bats or gloves . . . the ends justify the means,” the source said. “But when you are giving extra money to a senior center because they delivered people to a [political] event, it’s a different story.”

A federation spokesman called the allegations “simply untrue,” saying it only provides funds for those in need of disaster relief. As for payments to MirRam, the group noted that Miranda was no longer its president and MirRam is “arguably the top Latino lobbying and strategic consulting firm in our city.”

SOURCE http://www.nypost.com/p/news/local/bronx/twi_ted_web_in_bx_Fxatn1KxaBpb4reW6SaeqI#ixzz24f02JyRG