EVIDENCE FOUND!!! Clinton administration's "BANK AFFIRMATIVE ACTION" They forced banks to make BAD LOANS and ACORN and Obama's tie to all of it!!!

How did Citibank do after it tooks ACORN' and Obama;s advice?

Billions upon billions in taxpayer bailouts.

"Subprime lending started off as a good idea" Barack Hussein Obama

Since when is giving laons to un-creditworthy applicants EVER a good idea???

How 's that affirmative action when it comes to mortgages working for you these days?

About as well as HOPE and CHANGE thing I suppose.

The Democratic sponsored Housing Crisis on display for all to see.

Let me guess, it was all Bush's fault.

combined w/ the basic repeal of law separating regular banks from investment banks that led to the crisis , predicted in 1998 by senator feinberg! this is a rehash of the same old smear. acorn and tort reform are the big talking points of the right because acorn gets poor people represneted, and lawyers donate to dems!

this was in response to systemic discrimination in the housing market by real estate, banks, mort. co's etc. they di d lower the lending standards somewhat and did know that there would be a higher percentage of defaults but it was the unregulated derivitives, credit default swaps, " traunching" of loans and other unregulated creations of wall street,

essentiaslly a twisted story designed to impugn obama( a lawyer representing a client IS NOT responsible for the clients actions) ( or are the lawyers representing accused terrorists terrorists themselves?) and acorn.

Clinton - Encouraged good loans to subprime market, 30 yr fixed etc, Fannie and Freddie guaranteed them all was good.

Bush - Deregulated market and protections so banks made bad loans (3 yr ARMs) to any sucker they could and created credit default swaps to sell off loans guaranteed against NO collateral. Market crashed.

Risks involving credit derivatives are a concern among regulators of financial markets. The US Federal Reserve issued several statements in the Fall of 2005 about these risks, and highlighted the growing backlog of confirmations for credit derivatives trades. These backlogs pose risks to the market (both in theory and in all likelihood), and they exacerbate other risks in the financial system.

One challenge in regulating these and other derivatives is that the people who know most about them also typically have a vested incentive in encouraging their growth and lack of regulation. (The incentive may be indirect, e.g., academics have not only consulting incentives, but also incentives in keeping open doors for research.)
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Oooooh... Fox News clip in-between to bring in the fine salt of credibility. Well done, sir. A successful troll is successful.

I don't think Clinton and Obama told banks to create credit default swap loans, guaranteeing them with NO collateral and sell them off to make money assuming no risk This video is a total scapegoat for unregulated free market abuse of the system. Ohhh, the poor banks had to loan to poor people. There was no incentive for banks to make good loans, all incentive was to create bad easy loans and sell them off for immediate profit. Boom and bust economics!