[BigLittle]

HUD’s 1992 and 1995 affordable housing goals are what set this all in motion. Yes, the first black president put into effect the platform to push mortgages at people who could not afford them, setting the inevitable results of now in motion.

[savedbygrace]

That’s the truth.

[RKV]

To be fair, it takes more than blaming Clinton. Bush was (still is) President and if this was a problem (federal economic intervention which was contrary to sound economic policy) it was HIS job to say something about it. He didn’t. Yeah he had plenty of other stuff to do. Still, we haven’t dealt with SS either have we? Tried and failed. Part of the answer is that Americans need to get economic education and take this stuff seriously. And TANSTAAFL! They also need to learn the phrase “moral hazard.” It’s one of the consequences of government action in markets where the gov has NO business getting involved. When you privatize the gains of capitalism (ask Jamie Gorelick about how much fun that is) and dump the risks on the public, some people need to go to jail for fraud.

[TomGuy]

first black president put into effect the platform to push mortgages

Don't stop there.

Bush's not only allowing, but encouraging, banks to give loans to illegals and those otherwise unqualified has added to the crisis.

Just months ago there were articles about illegals who got $$$ for home loans and then absconded to south of the border, leaving the banks holding the mortgages and uncollectable loans.

There is plenty of blame for both sides of the aisle for this current financial crisis.