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1999: Fannie Mae Eases Credit To Aid Mortgage Lending?

http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all

Reckon perhaps this is the reason for the sub prime mortgage mess? Or is it all Bush’s fault? Key points in article include:

1) Clinton administration pressuring Fannie May to lower minimum credit requirements to increase minority home ownership

2) This coincided with HUD investigating Fannie May for racial discrimination in the systems used to determine the credit-worthiness of credit applicants.

Still wanna blame this whole mess on Bush? Just read the article. Its from the New York Times for crying out loud!

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This entry was posted on Friday, June 12th, 2009 at 10:53 am and is filed under Fannie Mae HUD. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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    One Response to “1999: Fannie Mae Eases Credit To Aid Mortgage Lending?”

    1. PhilistineTheArtLover says:
      June 12, 2009 at 10:53 am

      Whatever the Democrats did it did not spin out of control as it has under Bush.
      Bush has made it more than clear that the markets can do as they wish and Cheney has pronounced that “deficits don’t matter.”
      With this kind of mentality in the White House and throughout the country due to the brainwashing Rush Limbaugh and ilk have done over the years about the invincible nature of US capitalism, the US set itself up for failure.
      Whatever Clinton, and even Carter, have proposed to make ownership simpler it was done under a plot that required the careful regulation of it.
      That was never the case with Jr & Co. who let greed run wild like someone driving drunk after gulping down a six pack.

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    Tags: bush,  clinton administration,  credit applicants,  credit worthiness,  fullpage,  gst,  home ownership,  HUD,  new york times,  racial discrimination,  spon,  sub prime mortgage, 

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