Andrew Cuomo and Fannie and Freddie, How the youngest HUD secretary caused the mortgage crisis

The Village Voice ^ | August 05, 2008 | Wayne Barrett

[Checkers]

No room.

Ted Kennedy is already there.

[bmwcyle]

LOL

[rabscuttle385]

Thanks to Checkers for the ping!

McCain wants to replace Cox with Cuomo?!
And I should vote for McCain...uhh...why?

Because otherwise you get Obama! /sarcasm

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[E. Cartman]

Because otherwise you get Obama! /sarcasm

So we've now been reduced to deciding if we want a smooth skinned cocoa-colored socialist or a wrinkled, liver-spotted one?

(Real conservatives have known for a long time that enemies of The Republic aren't just on the left.)

[E. Cartman]

Because otherwise you get Obama! /sarcasm

So we've now been reduced to deciding if we want a smooth skinned cocoa-colored socialist or a wrinkled, liver-spotted one?

(Real conservatives have known for a long time that enemies of The Republic aren't just on the left.)

[E. Cartman]

Andrew Cuomo and Fannie and Freddie, How the youngest HUD secretary caused the mortgage crisis

And MacQueeg wants to make him the head of The SEC????Mrs. Palin needs to take him out behind the woodshed and knock some sense into him.

[GOPJ]

Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments.

ping

[Liz]

Thanks for the heads-up.

[syriacus]

bump

McCain has suggested Cuomo could replace Cox.

Maybe it’s a ploy by McCain to draw attention to Cuomo’s sorry record.

[Coleus]

.

[GOPJ]

ping

[GOPJ]

Franklin Raines, the Fannie chairman and first black CEO of a Fortune 500 company, warned that Cuomo's rules were moving Fannie into risky territory: "We have not been a major presence in the subprime market," he said, "but you can bet that under these goals, we will be." Fannie's chief financial officer, Timothy Howard, said that "making loans to people with less-than-perfect credit" is "something we should do." Cuomo wasn't shy about embracing subprime mortgages as a possible consequence of his goals. "GSE presence in the subprime market could be of significant benefit to lower-income families, minorities, and families living in underserved areas," his report on the new goals noted.

From the Village Voice - still a great read.

[GOPJ]

Sure - can you add me to your ping list? Thanks.

[Alamo-Girl]

Thanks for the ping!

[GOPJ]

ping

[mewzilla]

BTTT.

[dennisw]

btttt

[mewzilla]

BTTT.

[CommieCutter]

Bookmarked.

[MadelineZapeezda]

Bumpin the thread to keep it alive...Cuomo’s running for governor!