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re: Obama most corrupt President in?
Posted on 4/3/17 at 9:02 am to WhiskeyPapa
Posted on 4/3/17 at 9:02 am to WhiskeyPapa
Just stop embarrassing yourself
https://www.google.com/amp/www.cnbc.com/amp/2016/05/28/are-the-clintons-the-real-housing-crash-villains.html
quote:
Seeds of mortgage meltdown
The seeds of the mortgage meltdown were planted during Bill Clinton's presidency.
Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn't comply with these rules, regulators reined in their ability to expand lending and deposits.
quote:
These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What's more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase "subprime" became commonplace. What an understatement.
quote:
Next, the Clinton administration's rules ordered the taxpayer-backed Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent as part of a big push to expand home ownership.
Fannie and Freddie were securitizing these home loans and offering 100 percent taxpayer guarantees of repayment. So now taxpayers were on the hook for these risky, low down-payment loans.
https://www.google.com/amp/www.cnbc.com/amp/2016/05/28/are-the-clintons-the-real-housing-crash-villains.html
Posted on 4/3/17 at 9:07 am to SDVTiger
That is true. Were you the one blaming Carter? I can't even stand to hear Carter's voice. But this is not on him.
Whatever Clinton did, Bush made worse. Bush also did huge tax cuts and then started a war on the far side of the planet. Exactly the opposite of how a government should act when starting a war.
If Bush had wanted to hurt the United States, he picked a good course of action to do so.
Whatever Clinton did, Bush made worse. Bush also did huge tax cuts and then started a war on the far side of the planet. Exactly the opposite of how a government should act when starting a war.
If Bush had wanted to hurt the United States, he picked a good course of action to do so.
This post was edited on 4/3/17 at 9:08 am
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