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But the man who is now portrayed as an oracle was in fact its chief architect.
He's the one who originally pushed them to make those really dumb loans. And then he baited Wall Street to game the perverse system he created. Nobody put the American Dream of owning — and keeping — a home "under assault" more than he did.
Rewind to 1994. While everyone was worried about Clinton socializing health care, he was busy socializing mortgages.
He enlisted no fewer than 10 federal regulatory agencies to crack down on prudent lenders. He named his anti-bank SWAT team the Interagency Task Force on Fair Lending.
I miss Bill Clinton and wish he could be our President again. If you listen to his interviews lately, you'll see how smart he is and how he sees the global picture. These yahoo's running today can't compare.
Bill Clinton and a Republican congress. Stop making this a partisan issue.
Politicians(both parties) and banks are to blame.
For good measure, Clinton late in his second term installed several of his cronies — including White House budget chief Franklin Delano Raines — in key Fannie and Freddie board positions, ensuring they continued his affordable-lending crusade well into the next administration.
By the time he left office, Clinton had changed the rules for risk in the lending business. He had fundamentally changed the home finance market for the worse.
This untold Clinton scandal stayed hidden until the bubble burst. Now the former president is conveniently a critic of the very loans he promoted.
He was all for them before he was against them.
Interestingly, "Bank Robbery" notes that the Clinton Foundation that sponsors his global initiative has scrubbed from its website Clinton's boasts of shaking down banks for riskier minority loans.
If you listen to his interviews lately, you'll see how smart he is and how he sees the global picture.
He's there sometimes. However, the most recent interview I saw was not good. It was just this past weekend on the ABC/Amanpour Sunday morning show. He sounded confused and slowed. Maybe he was just fatigued.
I didn't see that interview. I saw several done at the Clinton Global Initiative. He's the most savvy of all the politicians. I wish Obama would get advice from him on how to deal with the Republicans. I have notice Newt Gringrich is taking credit for the welfare reform they did under Clinton.
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