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85%  
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Keyword: banksandmortages

Brevity: Headers | « Text »
  • Bush Proposed Fannie Mae / Freddie Mac Supervision In Sept 2003

    09/17/2008 10:01:15 PM PDT · by tallyhoe · 146 replies · 3,208+ views
    New York ^ | Sept 11, 2003 | STEPHEN LABATON
    A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac. Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.