Cuomo Caused The Subprime Meltdown

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[wtd]

This is a great video showing in just 30 seconds how Andrew Cuomo lit the fuse on the sub-prime mortgage meltdown. The video uses Cuomo's own words at HUD press conferences announcing his doomed plan that inflated the housing bubble!

[wtd]

Every homeowner currently suffering default on thier mortgage in NY should see this ad and consider whether they would really want to risk giving Cuomo yet another opportunity to destroy what little they have left.

[convertedtoreason]

I generally support all GOP candidates 99.999999%.

But I really have trouble on this one. Too self-absorbed.

[Liz]

STATUS CUOMO-GILLIBRAND: Their fingerprints are all over the current depression/recession. Pass the word.

When Cuomo was Housing and Urban Development Secretary under Clinton, he was the prime mover behind programs that destabilized Freddie Mac and Fannie Mae, and his programs to mandate banks loan to low-income and bad-credit homebuyers were a significant factor in the housing collapse.

Congresswoman Gillibrand served as Special Counsel to Andrew Cuomo, Pres Clinton's appointee as Secy of HUD. Gillibrand played a key role in furthering HUD’s Labor Initiative and *New Markets initiative (sub-prime mortgages); Gillibrand worked to strengthen the Davis-Bacon Act and drafting new markets legislation for public and private investment in building infrastructure to revitalize lower income areas across the nation."

"Sure, I know how I got the HUD job. Clinton needed my daddy in his corner, so he
gave me the HUD job. That's how I got the $18 million to run for Governor."

CUOMO AND BILL CLINTON CREATED CONDITIONS FOR MELTDOWN (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 sub-prime 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.......

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

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STATEMENT FROM NY GOVERNOR DAVID A. PATERSON
Appoints Kirsten Gillibrand to Hillary's Senate seat
FOR IMMEDIATE RELEASE: January 23, 2009

EXCERPT “New York State laws empower the Governor to appoint a new Senator if a seat should come open. It is my privilege and my responsibility to make this choice on behalf of the people of New York."

“That is why I am proud to announce my appointment of Congresswoman Kirsten Gillibrand to represent New York in the United States Senate. I am appointing Kirsten Gillibrand because she is the right leader for this decisive moment in our history. “Kirsten Gillibrand, the next junior Senator from New York will have big shoes to fill. This seat has been held by icons of New York State: Robert Francis Kennedy, Daniel Patrick Moynihan, Hillary Rodham Clinton."

" During the administration of President Clinton, Congresswoman Gillibrand served as Special Counsel to Andrew Cuomo, Pres Clinton's appointee as U.S. Secretary of Housing and Urban Development."

"At HUD, Congresswoman Gillibrand played a key role in furthering HUD’s Labor Initiative and *New Markets initiative, working to strengthen enforcement of the Davis-Bacon Act and drafting new markets legislation for public and private investment in building infrastructure to revitalize lower income areas across the nation."

Following federal service, Congresswoman Gillibrand entered the private sector, joining one of the Country’s premier law firms.

READ MORE AT: http://www.state.ny.us/governor/press/press_0123091.html

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NOTE * New Market Initiatives are also known as "subprime markets," the self-same sub-prime markets that precipitated the destruction of the US economy.

[Signalman]

But will the moron voters of NY State elect him? Sad to say, probably.

[Anti-Bubba182]

Andrew Cuomo and Fannie and Freddie

"..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...."

Probably Cuomo wins, but he really should be run out politics and government altogether.

[OneVike]

If you do not support the GOP candidate for governor against Cuomo, then you are not a true conservative, and I question your reason for being on FR>

[MissesBush]

CUOMO CRASHED THE WORLD ECONOMY?? PFFFT!!!! WHO CARES?! CARL PALADINO DOESN’T MUCH LIKE GAYS WHO PRANCE AROUND IN SEQUINED SPEEDOS! WE NEED TO BASE OUR VOTE FOR NY GOVERNOR ON THAT-—AND THE FACT HE DOESN’T LIKE MEDIA PERVERTS FILMING HIS 10 YEAR OLD DAUGHTER WHILE SHE SITS IN THE PRIVACY OF HER MOTHER’S HOME! I MEAN, THIS IS WHAT REALLY MATTERS IN THIS ELECTION, NOT WHETHER CUOMO IS RESPONSIBLE FOR MILLIONS OF PEOPLE GOING YEARS WITHOUT JOBS, HOMES OR ABILITY TO KEEP THEIR FAMILIES TOGETHER! /rant and sarc off

[OneVike]

Amen Sister.

[DJ MacWoW]

Care to expound?

[bert]

Elliot Spitzer facilitated the theft of AIG that caused AIG to insure all the trash

He was done in by the deposed Hank Greenburg who used his wealth to destroy the governor.

[hoosiermama]

FYI

[alstewartfan]

I don’t think it’s helpful attacking Freepers who have trouble with Carl. But, the ultimate point is that Palladino will NOT destroy NY or America, and Cuomo has already done so. NY would be much better off with Palladino as governor, and a failure to vote against Cuomo, and FOR Palladino would be crazier than anything that Palladino may have ever done! Bob