Y’all need to read a book named “Reckless Endangerment” http://tinyurl.com/pgp7h79. Tells about how this started back in ‘92 when Clinton signed the Community Reinvestment Act, which eventually led to the financial collapse of 2008.
***back in ‘92 when Clinton signed the Community Reinvestment Act,***
I believe it goes back farther to the CARTER admin. Remember the collapse of the Savings and Loan industry? Lots of people lost their homes then.
Loan agencies were begging us to refinance our home at a higher interest rate as home prices were suddenly skyrocketing and worth way more than we paid for it in just a couple of years.
We didn’t bite. Then came the collapse in the early 1980s.