The first sub-prime loans was launched in 1993. Who was president?

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subprime loans to the realization of demand in the market for loans to borrowers with high risk of developing imperfect credit. The first sub was launched in 1993. Many companies on the market if the interest rate was low and negative real interest could develop subprime prices modest. negative interest rates are hand-outs, the more you borrow the more you earn [edit] Others with the relaxation of usury laws is entered. Traditional lenders have historically been more cautious and potential borrowers facing impaired or limited. Statistically, about 25% of the U.S. population falls into this category. [Edit] In 1998, the Federal Trade Commission estimates that 10% were provided by financing new cars in the U.S. subprime loans, and $ 125 000 000 000, $ 859 000 000 000 dollars were Subprime.Im total mortgage in the third quarter of 2007 sub-prime weapons accounted for only 6.8% of outstanding mortgages in the U.S., but they accounted for 43.0% of the seizures began. Subprime fixed-rate account for 6.3% of outstanding loans and 12.0% of seizures started during the same period.

10 Comments
  1. Reply
    Susiepolls2008
    April 29, 2011 at 11:00 pm

    ask.com

  2. Reply
    PhaKing Liberals
    April 29, 2011 at 11:35 pm

    that would be Buba Clintonista, the communista

  3. Reply
    Unka Dano
    April 30, 2011 at 12:34 am

    Which republican backed lobbying group chipped away at the banking rules in 1993?

  4. Reply
    Hunkpapa Sioux
    April 30, 2011 at 12:39 am

    Ask someone on the left, we know who it was, There just going to
    stay with there heads stuck in the sand, Hoping this will go away.

  5. Reply
    Scarboro
    April 30, 2011 at 12:56 am

    What difference does who was president,with regard to your question and the sub prime loan? The issue at hand is the fact that only GREED,,set the stage for what has brought America to this point..There has NEVER been a sub prime loan made by ANY financial institution in which the financial LOST MONEY MAKING the LOAN.. That’s a indisputable fact !! After the loan was created usually with a three or five year resetable ARM (adjustable rate mortage interest rate) the loan was sold,,bundled,,and became a mutual fund on Wall Street..THEN,,the financials created “Insurance” for the loan packages,,which was not secured with backing.. If the Housing market continued to go up,,and finance interest rates went down or stayed the same,,all was good..BUT,, when the housing mkt..started going down,,and interest rates started rising and the ARM’s reset,,collapse was inevitiable !! AND,,when the “phony” insurance couldn’t pay the back up insurance monies,,(AIG) their collapse was also predictable !! So really,,what are trying to say?? This WHOLE situation was created by GREEDY financiers,,with the help of our Govt. thru their inept deregulation of the usury and financials regulations,,and the catering to Wall Street,,and an ignorance towards fiscal constraint, also on the part of our govt. The last eight years set the stage for everything which has happened..And It definitely was the result of the Greedy Rich and Big Businesses in consert with our Govt.. SCARBORO

  6. Reply
    KitKat
    April 30, 2011 at 1:49 am

    That would be “Slick Willie” Clinton.

  7. Reply
    semper_paratus_1776
    April 30, 2011 at 1:50 am

    That would be Bill Clinton, but let’s not slight our current feckless leader, Pres. Obama, whose National Finance Chair and member of Obama’s Economic Recovery Advisory Board (Penny Pritzker) was chairman of the Superior Bank of Chicago in 1991.

    Under Ms. Pritzker’s chairmanship, the bank “embarked on a business strategy of significant growth into subprime home mortgages. The bank collapsed in July, 2001.

    According to the Office of Thrift Supervision,

    “ Superior Bank suffered as a result of its former high-risk business strategy, which was focused on the generation of significant volumes of subprime mortgage and automobile loans for securitization and sale in the secondary market. OTS found that the bank also suffered from poor lending practices, improper record keeping and accounting, and ineffective board and management supervision. ”

    George Kaufman, a finance professor at Loyola University Chicago called Superior’s failure “a tale of gross mismanagement,” adding that “[Superior] was engaged in relatively unethical practices, fancy-footwork accounting, playing it very close to the edge.”

    Kaufman says many share in the blame for the mess-the bank’s managers, directors, and auditors, as well as banking regulators-but he also wonders how the Pritzkers, as co-owners, could have allowed it to happen. “One of the great mysteries to me is what the Pritzkers were up to, why they took these chances,” he said. “It makes no sense given their wealth and visibility.”

    It makes no sense why she serves on Obama’s Economic Recovery Advisory board

  8. Reply
    Griggnax
    April 30, 2011 at 2:25 am

    The Pres was Clinton.
    But who controlled Congress, and wrote the laws which allowed for sub-prime loans to exist?
    That would be the Republicans, and Phil “Nation of Whiners” Gramm.

  9. Reply
    Robyn Duck
    April 30, 2011 at 2:31 am

    Billy Boy Clinton! Bush may have been lousy but this sh*t isn’t his fault!

  10. Reply
    shine on me...
    April 30, 2011 at 3:09 am

    That was the beginning of the Clinton administration.

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