Email me at Mike Emery. All financial contributions are cheerfully accepted. If you want to keep it private, use my PGP Key. Home Page
Bill Clinton wanted blacks and Hispanics to own homes too. Even if he meant well, a dubious proposition he did badly. It is a problem that was going to blow up after he left office and duly did. If you want to understand the thing read The Big Short - Inside the Doomsday Machine - an excerpt is at Betting on the Blind Side albeit Michael Lewis, the author does not finger Clinton.
Subprime lending misconceptions
QUOTE
Today's subprime mortgage market was the result of innovative yet high stakes political decisions by President Bill Clinton and Housing and Urban Development Secretary Henry Cisneros to push homeownership to record levels. Homeownership gains were not to be made on the backs of conventional borrowers but rather through emerging market penetration of black, Latino, and Asian immigrant/first-time home buyers and through HUD's instruction of the Government Sponsored Enterprises ofFannie Mae andFreddie Mac to employ strategies to fund more loans by providing more credit primarily to credit-blemished borrowers. Wall Street was guided by Federal Reserve Chairman Alan Greenspan, whose economic wizardry spurred unprecedented loan performance. There was more money, more credit, more homes, and more wealth........ Companies overextended themselves, and Wall Street began to refuse the responsibility for underperformance. Crash!
UNQUOTE
Lend money to people who can't repay then look surprised when they do not. But Clinton was out of office by that time and the Boston Globe is covering up for him. It was the same with the Lewinsky thing. The truth comes down the line.
Bill Clinton and The Financial Crisis: US Democratic ...
"14 Sep 2008 ... Clinton Administration Pushed For Sub-prime Lending ... Permission to republish Bill Clinton and The Financial Crisis in print or online ..."
international-financial-affairs.suite101.com/article.cfm/bill_clinton_and_the_financial_crisis3. Hot Air » Blog Archive » Video: Subprime loans “affirmative action ...
"Andrew Cuomo, then Bill Clinton’s HUD Secretary, held a press conference on April ... Cuomo describes everything wrong with subprime lending and reveals the ..."
hotair.com/archives/2008/10/10/video-subprime-loans-affirmative-action-andrew-cuomo/4. Community Reinvestment Act - Wikipedia, the free encyclopedia
"Housing advocacy groups were also leaders in the fight against subprime lending in low- and moderate-income communities, "In fact, community advocates had ..."
en.wikipedia.org/wiki/Community_Reinvestment_Act5. Subprime Loans | The Daily Show | Comedy Central
"Larry Wilmore explains how African Americans are using subprime loans to get back at The Man. ... August 1, 2007: Subprime Loans. Share this video: ..."
www.thedailyshow.com/video/index.jhtml?videoId=90948&title=subprime-loans6. Clinton Campaign Insiders And Subprime Lending « Smartcrow Sees All
"30 Mar 2008 ... Filed under: Bill Clinton, Election 2008, Hillary Clinton, election, ... Clinton Campaign Insiders And Subprime Lending at Sub Prime on The ..."
smartcrow.wordpress.com/2008/03/30/clinton-campaign-insiders-and-subprime-lending/7. Walter E. Williams : Subprime Bailout - Townhall.com
"A subprime lender is one who makes loans to borrowers who do not qualify for ... The long run effect of the Bush plan is to make lending institutions even ..."
townhall.com/Columnists/WalterEWilliams/2008/01/23/subprime_bailout8. It's Not the "Greedy Poor People" | CommonDreams.org
"24 Oct 2008 ... Subprime lending was at its height from 2004 to 2006. Conservative critics of the CRA also claim that the Bill Clinton administration pushed ..."
www.commondreams.org/headline/2008/10/24-59. How HUD Mortgage Policy Fed The Crisis
"In 1995, President Bill Clinton's HUD agreed to let Fannie and Freddie get ... The idea was that subprime lending benefited many borrowers who did not ..."
www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626_pf.html10. Did Bill Clinton force banks to offer subprime loans? - Yahoo! Answers
"This is a rumor that I need to have cleared up. W…"
answers.yahoo.com/question/index?qid=20080918143954AAzmOMH11. LiveLeak.com - Subprime loans “affirmative action” - Andrew Cuomo
"10 Oct 2008 ... Andrew Cuomo, then Bill Clinton’s HUD Secretary, ... Cuomo describes everything wrong with subprime lending and reveals the government’s ..."
www.liveleak.com/view?i=763_122364437512. subprime lending crisis // Current
"Current TV subprime lending crisis category, discover popular subprime lending ... Bill Clinton's Chairman of the Commodity Futures Trading Commission, ..."
current.com/topics/88803598/subprime_lending_crisis/new/0.htm13. Prepare Yourselves For A Settlement: Maggie Williams and sub-prime ...
"30 Mar 2008 ... I liked Bill Clinton... Then I grew up... On sel. ... Maggie Williams and sub- prime lending...Clinton ca... Fraud or legitimate pundit. ..."
johnbrownks.blogspot.com/2008/03/maggie-williams-and-sub-prime.html14. subprime lending | The Next Right
"But as late as 2007, Dodd didn't think the subprime problem warranted a ..... Chris Dodd may have been a close ally of former President Bill Clinton, ..."
www.thenextright.com/category/blog-tags/subprime-lending15. CNN Political Ticker: All politics, all the time Blog Archive ...
"8 Oct 2008 ... Obama did say subprime lending "started off as a good idea," but he was criticizing .... CNN confirms: Bill Clinton to campaign with Obama ..."
politicalticker.blogs.cnn.com/2008/10/08/fact-check-did-obama-say-subprime-loans-a-good-idea/16. ASIA Subprime lending to trigger world’s worst financial crisis ...
"Milan (AsiaNews) – Subprime lending in the US housing market is a storm on the verge ... President Bill Clinton signed into law the Gramm-Leach-Bliley Act, ..."
www.asianews.it/index.php?l=en&art=10347&size=A17. Lenders Try to Fend Off Laws on Subprime Loans - New York Times
"4 Apr 2001 ... former chief of staff for President Bill Clinton. .... ''All of them, to one extent or the other, do subprime lending,'' Mr. Fort said, ..."
query.nytimes.com/gst/fullpage.html?res=9D07E2DE163EF937A35757C0A9679C8B63&sec=&spon=&pagewanted=all18. The Foreclosure and Subprime lending crisis; Hello - NJVoices ...
"27 Nov 2007 ... Subprime lending is a fancy, financial term for high interest .... when our governor or a new president reworks Bill Clinton's famous remark ..."
blog.nj.com/njv_john_atlas/2007/11/the_foreclosure_and_subprime_l.html19. Bill Clinton touts Hillary Clinton's plan to stem foreclosures
"17 Jan 2008 ... They are victims of a sub-prime loan gone belly up. ... But Clinton said that predatory lending, a phrase he didn't use during his ..."
www.fogcityjournal.com/news_in_brief/jh_clinton_subprime_080117.shtml20. Newsweek - National News, World News, Health, Technology ...
"Related Articles: Subprime Lending. From Newsweek. headline. BUSINESS ... and it's the fault of Jimmy Carter, Bill Clinton, and poor minorities? ..."
www.newsweek.com/related.aspx?subject=Subprime+Lending1. MyDD :: How Bill Clinton's Lies fueled the 90's Economy
"2 Jul 2008 ... This has barely nothing to do with Bill Clinton - sub-prime lending only really took off recently! The poor regulation is due to Bush also. ..."
www.mydd.com/story/2008/7/2/15135/579812. LJWorld.com / Pain not over yet
"ever heard of acorn, barney frank, bill clinton, sub prime mortgages being pushed by the democrats, etc. etc. more ignoance or lies coming the liberal left , ..."
www2.ljworld.com/news/2008/oct/14/pain_not_over_yet/3. The Fuel That Fed The Subprime Meltdown - Free Chat, Dating Forums ...
"... price...just google bill clinton sub-prime loans...and...you'll see where the bulk of this problem stems from...the republicans controled congress back ..."
mingle2.com/topic/show/1684584. Adjustable Rate Mortgage Congress - Bankruptcy Help
"And who did they nominate before Bill Clinton. Sub prime brokers will either have you fill out the application online or through the mail. ..."
myweb.msoe.edu/~jacksonl/resource/Images/pub/hm/adjustable-rate-mortgage-congress.html
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cock ups, over-emphasis, malice [ real or imaginary ] or whatever; if
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Updated on 24/09/2012 13:57