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1995 is when clinton, through his chief(s) of HUD (Henry Cisneros, and later Andrew Cuomo) EASED THE RULES for obtaining mortages, allowing such things as "exotic' mortgages, and "NO_DOC" mortgages....
much of it started under the DEMOCRAT CONTROLLED CONGRESS in 1992-1993
Quote:
the Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress "mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers.
Clinton's secretary of housing and urban development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.
Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. (funny how welfare is not taxable though)
In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.....but Bush did nothing, trying to show how liberal he really was.
but it really got rolling under clinton and his NINJA
IF the gulf war was "quite the success" we wouldn't still be involved in Iraq now, would we? The gulf war was a colossal waste of $$$. IF you truly believe you are fighting a real enemy and you have him on the ground with your boot on his throat, you DO NOT lift your foot.
I agree, we should have gone to Baghdad in the early 90's.
Hardcore Bushies are turning themselves inside out trying to convince anyone who'll listen that their boy isn't the worst prez in living memory.
We don't have to convince anyone with the Big O in office right now, he is hands down the most incompetent, sorry excuse for a President we have ever had and I lived through the Carter years too!
We don't have to convince anyone with the Big O in office right now, he is hands down the most incompetent, sorry excuse for a President we have ever had and I lived through the Carter years too!
Hardcore Bushies are turning themselves inside out trying to convince anyone who'll listen that their boy isn't the worst prez in living memory.
No, it is very easy and takes no effort. BO is the worst president in the history of this country. He proves it every day, himself, every time he opens his mouth and shows how utterly incompetent he is for the job and most certainly has proven beyond doubt he has absolutely no understand of economics.
I agree, we should have gone to Baghdad in the early 90's.
Of course liberal Democrats who opposed the Gulf war to begin with would have no doubt fully supported the invasion of Baghdad.
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car in ditch is repairable, Obama goes off the cliff
Obama is not cleaning up Bush's mess he's cleaning up Clinton's mess while making more mess
Oh, yeah...
