[AliVeritas]

Flashback ping

[Brad from Tennessee]

CUOMO AND BILL CLINTON CREATED CONDITIONS FOR MELTDOWN

(From Village Voice 8-5-08)

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. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded “kickbacks” to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why. . .

http://www.villagevoice.com/2008-08-05/news/how-andrew-cuomo-gave-birth-to-the-crisis-at-fannie-mae-and-freddie-mac/

[Carley]

Bebe Cuomo has a long history of suspect dealings. His tenure at HUD was filled with corruption and seemingly nothing has changed.

He’s dishonorable seems to be following in Spitzer’s footsteps with high profile charges against Wall St. firms.

He’s just another ‘effing steamroller’ and with luck he’ll be out of a job sooner rather than later.

I can’t believe the people of NY have forgotten his odious father.

[Broker]

Coumo’s duck soup. Affordable housing has such a pleasant sweet ringing sound. WSJ editorial clearly reminds us Cuomo at HUD forced sub-prime loans on the banks. No wonder there was a generation of absolute loyal Clintonistas.