(no subject)

Date: 2008-09-29 10:47 pm (UTC)
The sub-prime debacle started at the tail-end of the Clinton administration, as was recently pointed out by the NYT in this (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1) article dated September 30, 1999.

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.

That about says it all. Irresponsibility and greed.
This account has disabled anonymous posting.
If you don't have an account you can create one now.
HTML doesn't work in the subject.
More info about formatting

Profile

primroseburrows: (Default)
primroseburrows

June 2018

S M T W T F S
     12
3456 789
10111213141516
17181920212223
24252627282930

Most Popular Tags

Style Credit

Expand Cut Tags

No cut tags