To: Jim Robinson
Good catch Jim, bears repeating:
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.
38 posted on
09/20/2008 4:37:22 PM PDT by
DouglasKC
(.)
To: DouglasKC
BTTT
40 posted on
09/20/2008 4:38:11 PM PDT by
ConservativeMan55
(Obama is the Democrats guy. They bought the ticket, now they must take the ride.)
To: DouglasKC
So essentially the Clintonites forced lenders to lend money to the poor, particularly poor minorities whereupon they subsequently defaulted their loans.
To stem the bleeding, lenders bundled these loans in securities that they then sold on the open market that now is sending the world market into freefall. Along the way, Raines and Obama and Gorelick profited off this whole sordid affair.
Fair summarization?
139 posted on
09/21/2008 12:40:14 AM PDT by
TheThinker
(It is the natural tendency of government to gravitate towards tyranny.)
To: DouglasKC
So essentially the Clintonites forced lenders to lend money to the poor, particularly poor minorities whereupon they subsequently defaulted their loans.
To stem the bleeding, lenders bundled these loans in securities that they then sold on the open market that now is sending the world market into freefall. Along the way, Raines and Obama and Gorelick profited off this whole sordid affair.
Fair summarization?
140 posted on
09/21/2008 12:42:01 AM PDT by
TheThinker
(It is the natural tendency of government to gravitate towards tyranny.)
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