The root cause was the culture of risky mortgage lending created by Democrats and their affordable housing ideology. The casualty was lending standards.
It started with the CRA. The CRA was the stepping stone that Obama's ACORN used to corrupt the GSEs with risky lending mandates by Congress in 1992. The origination market was corrupted into subprime by Clinton's HUD dept. in the early 1990s. The bubble was caused by the subprime expansion.
Man, google "Community Reinvestment Act" -including the 90's changes-, then check Obama's connections with Fannie Mae, then check who tried to put more regulatory measures in place TO AVOID THE WHOLE MESS, and then, only then, please come back, and post some more videos.
The US Congress voted to allow Treasury Secretary Paulson to hand over to Wall Street buddies, Over 800 billion dollars, Thats for openers.
The US Treasury on their own have dispensed billions more to financial firms. The Federal Reserve, a private company owned by foreign bankers, refuses to identify who it has given the US money it has loaned out of thin air created from debt that will hobble our children and grand children
You're wrong bubba.
The root cause was the culture of risky mortgage lending created by Democrats and their affordable housing ideology. The casualty was lending standards.
It started with the CRA. The CRA was the stepping stone that Obama's ACORN used to corrupt the GSEs with risky lending mandates by Congress in 1992. The origination market was corrupted into subprime by Clinton's HUD dept. in the early 1990s. The bubble was caused by the subprime expansion.
averageworkinggal 3 years ago
Man, google "Community Reinvestment Act" -including the 90's changes-, then check Obama's connections with Fannie Mae, then check who tried to put more regulatory measures in place TO AVOID THE WHOLE MESS, and then, only then, please come back, and post some more videos.
Get your 'facts' straight.
adldesigner 3 years ago
Americans are fools to let this happen.
The US Congress voted to allow Treasury Secretary Paulson to hand over to Wall Street buddies, Over 800 billion dollars, Thats for openers.
The US Treasury on their own have dispensed billions more to financial firms. The Federal Reserve, a private company owned by foreign bankers, refuses to identify who it has given the US money it has loaned out of thin air created from debt that will hobble our children and grand children
onstageagain 3 years ago