Does the Clinton presidency just keep on giving?

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Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

14 Comments
  1. Reply
    Scourge 0' Fascism
    May 2, 2011 at 12:04 am

    Eight years gone and it’s still Clinton’s fault when anything goes wrong.

  2. Reply
    Verbal_Abrasion
    May 2, 2011 at 12:37 am

    “Does the Clinton presidency just keep on giving?”

    Yeah, kind of like herpes.

  3. Reply
    Holy Cow
    May 2, 2011 at 1:18 am

    By a republican congress no less. Imagine that.

  4. Reply
    Stephanie C
    May 2, 2011 at 1:31 am

    Let me get this straight, bush has been in office for 8 years & you are asking about the clintons? this country is in some serious trouble

  5. Reply
    Styrofoam Columns ? HAHAHAHA
    May 2, 2011 at 1:54 am

    This crisis started by Clinton and Barney Frank. They preassured banks to give out loans to people that can’t pay back….

  6. Reply
    IMO
    May 2, 2011 at 2:00 am

    Yep, this was a problem that has been ignored and now, dang, we’re paying for their laziness and lousy socialistic ideas.

  7. Reply
    zaza
    May 2, 2011 at 2:43 am

    Yeah! They just gave us 700 Billion Dollars in debt! Thank you all!

  8. Reply
    Bob Joke
    May 2, 2011 at 3:10 am

    Yes and it was a shame the way Madeleine Albright supported Kim Jong-il and North Korea.

  9. Reply
    Frank R
    May 2, 2011 at 3:48 am

    Even if Clinton was to blame originally what has Bush done in the 8 years he has been in charge? Also, Fannie Mae is nothing but a drop in the bucket compared to the Iraq War, Afghanistan, the present crisis and a host of other disasters left by the present administration.

  10. Reply
    thegubmint
    May 2, 2011 at 4:27 am

    Just shows you how far-reaching decisions by an administration can actually be.

    And isn’t it funny to see Dems still blaming things on Reagan, but when Clinton comes into the picture, it’s all that Republican Congress’ fault?

  11. Reply
    Antiliber
    May 2, 2011 at 4:49 am

    Yes I agree ,, This has been a long time coming ,, you cant just Hang it on the Bush administration…

    The Community Reinvestment Act

    a United States federal law that requires banks and savings and loan associations to offer credit throughout their entire market area and prohibits them from targeting only wealthier neighborhoods with their services, a practice known as “redlining.”

    The CRA was passed by the 95th United States Congress and signed into law by President Jimmy Carter in 1977

    Bush Sr. The Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA), enacted in the wake of the savings and loan crisis of the 1980s, increased public oversight of the process.

    In early 1993 President Bill Clinton ordered new regulations for the CRA which would increase access to mortgage credit for inner city and distressed rural communities.[

    G W Bush – In 2002 there was an interagency review of the effectiveness of the 1995 regulatory changes to the Community Reinvestment Act and new proposals were considered.[6] In related 2003 proposals, the Bush Administration recommended that a new Department of the Treasury agency should supervise the primary agents guaranteeing subprime loans, Fannie Mae and Freddie Mac. Congressional support was approximately split along Party lines and the proposal eventually failed.[

    Congressman and 2008 Republican presidential candidate Ron Paul has partially attributed the ongoing subprime mortgage crisis to legislation such as the Community Reinvestment Act.[25] A Wall Street Journal editorial recently argued that the law compelled banks to make loans to poor borrowers who often could not repay them and that this contributed in part to the subprime crisis.[26]

  12. Reply
    Slate
    May 2, 2011 at 5:36 am

    Both parties are to blame, but the root is the Federal Reserve, what we are experiencing is the “bust cycle” since the 90’s “boom”. Although Bush has seriously screwed us, in terms of value of the dollar. But it was inevitable.

  13. Reply
    badgirl03602
    May 2, 2011 at 6:36 am

    And while Clinton was in office, there were regulations in place that protected both the consumer from predatory lending practices and the lenders from their own greed. Under Bush, those protections were systematically overturned. What you see now isn’t the fault of Clinton. It’s the responsibility of the short-sighted Bush administration.

  14. Reply
    sl
    May 2, 2011 at 6:51 am

    Yes, I think Clinton should pay it back and anyone who financially benefited from this mess ie. Dodd, Obama and Kerry. Clinton was the one to create the ‘no documentation loans’ the banks should have known better. Yet, they saw it as a huge money making scheme themselves- they did not care how the chips eventually fell only that they would profit. Clinton also started trade with China, look where that has gotten us, we buy all of our products from China lead paint and all. The products are so cheap that the US and even Mexico can not make them as cheap. The Clinton’s wanted us to have socialized health care too, doesn’t that show people that it would be disastrous? Wake-up America!!!

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