[Gay State Conservative]

The banking crisis of 2008 started in the 90s when Attorney General ReNo declared that any mortgage lender who dared deny a "person of color" a mortgage would have the weight of the United States Government drop upon them.

They got the message and started giving mortgages to anyone with a pulse.

The rest is history

And here we go again!

And a message to Fox News: it's "black"...not "Black".

[ridesthemiles]

A seasonal immigrant Mexican agricultural worker got a loan for a $650,000 house in Fresno around 2004.

Everyone was surprised when foreclosure 6 months later showed NOT a single payment had been made.

[markomalley]

A lot of people forget that.

The tragedy is that the Bush II Regime endorsed and perpetuated this. Clinton/Reno started it, but Bush II could’ve nipped it in the bud...but they LOVED the PR from showing how home ownership increased during his first term. And “conservatives” like Shammity lauded it, not thinking about how it would eventually collapse the market.