Folks, the REAL blame for the economy can be summed up in two sentences from today’s Investor’s Business Daily PageA10:
“In 1996, President Clinton’s Department of Housing and Urban Development told Fannie and Freddie that 42% of their financing had to go to those with incomes below the median.”
“By 2000, HUD Secretary Andrew Cuomo proudly unveiled new regulations to provide $2.4 trillion in mortgages for affordable housing for 28.1 million families.”
Pretty much says it all.
Thank you. I’ve tried to tell my Dim Dhim Dem friends (?) this to no avail. I may as well talk to a wall.