Sorry, Charlie...
Try again.
BTW, weren't the Republicans in charge when all this got started?
I'd say Slick Willie was in on it, but he was newt-ered....
61% of All Subprime Mortgage Holders Could Have Qualified for Conventional Loans
sorry charlie, u try again and have an Obama Acorn.
The high-risk subprime mortgage social engineering community service experiment by left-wing ACORN and Obama has created the largest financial crisis since The Great Depression. The full reach of the corruption and scandal may never be known but those who created it must not be rewarded. The architects, primarily left-wing Democrats, created laws, took donations, looked the other way and instead were too busy overseeing donations to their own presidential campaigns and robbing main street blind. Now these same left-wing Democrats blame everyone else and get up on their high horses and say, “we are here to save you” from the crises they created.
Yes, Mr. Obama knows a great deal about the mess. He is a central figure in the left-wing ACORN exploitation of financial institutions and pressuring them to make high risk loans. The very same left-wing ACORN was guilty of voter fraud in the last presidential election. Now these same Democrats want to do another high risk “community service,” social engineering experiment.
FOLLOW THE MONEY AND CORRUPTION! A Lending Policy created by democrats for democrats run by democrats monitored by democrats enforced by community organizer democrats and profited from by democrats. Fannie and Freddie acted in response to Clinton administration (and later the Bush admin) pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster. ONE key pioneer of ACORN's subprime-loan shakedown racket was Madeline Talbott - an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae's mortgage policies.
http://www.thenextright.com/ozarkguru/obama-acorn-root-causes-of-mortgage-crisis
You’ve got only a couple thousand bucks in the bank. Your job pays you dog-food wages. Your
credit history has been bent, stapled, and mutilated. You declared
bankruptcy in 1989. Don’t despair: You can still buy a house.” So began an April 1995 article in the
Chicago Sun-Times that went on to direct prospective home-buyers fitting this profile to a group of far-left “community organizers” called ACORN, for assistance. In retrospect, of course, encouraging customers like this to buy homes seems little short of madness.
Militant ACORN
At the time, however, that 1995 Chicago newspaper article represented something of a triumph for Barack Obama. That same year, as a director at Chicago’s Woods Fund, Obama was successfully pushing for a major expansion of assistance to ACORN, and sending still more money ACORN’s way from his post as board chair of the Chicago Annenberg Challenge. Through both funding and personal-leadership training, Obama supported ACORN. And ACORN, far more than we’ve recognized up to now, had a major role in precipitating the subprime crisis.
http://www.nationalreview.com/articles/225898/planting-seeds-disaster/stanley-kurtz
