Posted on 09/25/2008 11:32:33 AM PDT by ventanax5
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
(Excerpt) Read more at query.nytimes.com ...
Has anyone else noticed something strange?
There are no calls in Congress for SPECIAL PROSECUTORS to INVESTIGATE all these bailouts!
Not even so much as a call for a Congressional Blue Ribbon Committee to look into these huge failures!
There is absolutely SILENCE on the part of the DEMOCRATS IN CHARGE of everything on The Hill to INVESTIGATE ANYTHING!
IT’S NOT THE LACK OF EVIDENCE IT’S THE SERIOUSNESS OF THE CHARGES! Isn’t that what they have said in past investigations?
Their silence is deafening...............
This article is from September 30, 1999.
Here’s an article called “Assault On The Mortgage Industry” from Dec. 1993 that tells just how early on in the Clinton misAdministration the bullying began.
http://findarticles.com/p/articles/mi_m1282/is_n25_v45/ai_14779796
Nice find
Cuomo's predecessor, Henry Cisneros, did that for the first time in December 1995, taking a cautious approach and moving the GSEs toward a requirement that 42 percent of their mortgages serve low- and moderate-income families. Cuomo raised that number to 50 percent and dramatically hiked GSE mandates to buy mortgages in underserved neighborhoods and for the "very-low-income."
Snip
That June Post story focused its critical reassessment of HUD's affordable-housing goals on the department's 2004 decision—during the Bush re-election campaign—to juice them up again, pushing the target to 56 percent by 2007.
Great find! You should send this to Rush, Hannity, Beck, Brit Hume at Fox.
Hannity just read this article on the air.
Strange?
Absolutely predictable!
These bastards are up to their eyeballs in blatantly bad legislation to protect their buddies in the guilty lending institutions.
I personally want to see some “witches” burned at the stake.
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