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      10-19-2008, 09:46 PM   #1
Grizzles
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Fannie Mae Freddie Mac Foreclosures

Here is something that is a good read. alot of people were blaming Bill Clinton for the housing crisis.
http://www.whitehouse.gov/news/relea...0021015-7.html
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      10-19-2008, 09:50 PM   #2
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Bill Clinton also lifted the regulations on wall st.
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      10-19-2008, 10:03 PM   #3
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show me.
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      10-20-2008, 12:25 AM   #4
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Quote:
Originally Posted by Grizzles View Post
show me.
read or watch the news - even liberal media. the regs were reduced in the Clinton era to give everyone a chance at the american dream. ACORN actually sued banks that would not give loans to poor people with no income or address. lots of banks gaave in and approved the loans - why not Freddie and Fannie were buying up all the loans anyways.
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      10-20-2008, 10:13 PM   #5
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how bout some footnotes, like real sources, good or bad.
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      10-21-2008, 10:44 AM   #6
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Quote:
Originally Posted by Grizzles View Post
how bout some footnotes, like real sources, good or bad.
Here's something from your source:

Quote:
Freddie Mae -- Fannie Mae and Freddie Mac -- I see the heads who are here; I want to thank you all for coming -- (laughter) -- have committed to provide more money for lenders. They've committed to help meet the shortage of capital available for minority home buyers.

Fannie Mae recently announced a $50 million program to develop 600 homes for the Cherokee Nation in Oklahoma. Franklin, I appreciate that commitment. They also announced $12.7 million investment in a condominium project in Harlem. It's the beginnings of a series of initiatives to help meet the goal of 5.5 million families. Franklin told me at the meeting where we kicked this office, he said, I promise you we will help, and he has, like many others in this room have done.

Freddie Mac recently began 25 initiatives around the country to dismantle barriers and create greater opportunities for homeownership. One of the programs is designed to help deserving families who have bad credit histories to qualify for homeownership loans. Freddie Mac is also working with the Department of Defense to promote construction and financing for housing for men and women in the military.
Re suing Citibank: http://clearinghouse.wustl.edu/detai...rderbycaseName

Re 1995 CRA revision:

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A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money.

http://www.nypost.com/seven/02052008...911.htm?page=0
Re 1999 repeal of Glass-Stegall (Gramm-Leach-Bliley): http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act (Sorry for the wiki reference, but it has pretty much everything there in one place.)
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      10-21-2008, 03:42 PM   #7
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To add..... Try to dispute it, I dare ya.

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      10-23-2008, 08:36 AM   #8
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Quote:
Originally Posted by bobstiff0 View Post
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      10-24-2008, 12:41 AM   #9
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Quote:
Originally Posted by Grizzles View Post
show me.
Go look it up for yourself. There are plenty of articles out there.
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      10-24-2008, 04:19 AM   #10
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the ups and downs of the economy are not anything new. I learned that as a freshman in Ec 101. everyone knew years ago that the housing bubble would burst soon. - its just like musical chairs the slow and stupid ones got cuaght without a chair. I for one did quite well during that time. and groups like ACORN, Freddie and Fannie were ther pulling chairs out from under people.
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