Jimmy Carter, Bill Clinton, Janet Reno to blame for mortgage mess

BIZPACReview.com ^ | 10/21/2011 | John R. Smith

[org.whodat]

And the same old crap of getting it wrong, the mortgages that blew apart were made at the tail in of the mess, home price got so high, no one could pay the payments, in walks all the sub-prime mortgages, interest only, and second notes, etc., the standard mortgages made back during the early years were never the problem. http://useconomy.about.com/od/glossary/g/subprime_mortg.htm

[org.whodat]

Foreclosure numbers tracked normal during these years, look it up.

[Go Gordon]

The housing mess was a direct result of Democrap policies created by Carter, but implemented with full force by Clinton.

And sadly, supported/trumpetted by George W. Bush.

[InterceptPoint]

Foreclosure numbers tracked normal during these years, look it up.

I'm sure they did. But you need to account for the fact that the loans were basically bad and the banks knew that. These loans had artificially low interest rates for a few years and then BANG you're dead. When those low interest rate periods ended that when it hit the fan. But the poison was in the system for a long time before that.

[hattend]

Actually, professional politicians of all stripes are to blame.

Term limit the lot of them.

[org.whodat]

LOL, wrong, if you look at it you will find, the lenders were shocked at how well they performed. And this fact made them take greater risk. That and the ignorant concept that everyone in the country could buy a 250000 house at 7% interest, the mortgage market went to hell with the flipping and the interest only and year notes, making loans to people because that were breathing.