Mortgage Lending Crisis
Subprime loans and mortgage crisis?
Just read this article on MSNBC.com
http://www.msnbc.msn.com/id/25053787/
When you apply moron liberal policies the results are sure to come:
In 1995, President Bill Clinton’s HUD agreed to let Fannie and Freddie get affordable-housing credit for buying subprime securities that included loans to low-income borrowers. The idea was that subprime lending benefited many borrowers who did not qualify for conventional loans. HUD expected that Freddie and Fannie would impose their high lending standards on subprime lenders.
Read the entire article and make up your mind.
Clinton left a whitehouse with such policies in effect and a country venruable to terrorists.
Do we want them back?
No. And your right, when govt interferes with free markets, look at the results. If it would have been left to the markets the vast majority of people would have never qualified for these horrible loans.
And then you have morons like Alan Greenspan saying ARMS are good instruments.