Why the press has ignored the fact that in most cases, the mortgage is a blend?

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direct consequence of the policy of Bill Clinton? In 94, Clinton lowered the requirements for conventional mortgages to minorities, including the filing of such ideals and trivial able to demonstrate ability to repay the loan and why you think it’s not reported? http://www.ekodialog.com/Articles/mortgage_metamorphosis_secondary_market.html

14 Comments
  1. Reply
    Dougiepoos
    May 2, 2011 at 5:53 am

    It’s not in their agenda.

  2. Reply
    Wobbily
    May 2, 2011 at 6:41 am

    Maybe if the Cost of living would go down or maybe if employers actually paid their employees what they are worth we wouldnt have this crisis.

  3. Reply
    Leftwing koolaid stops here
    May 2, 2011 at 6:50 am

    Because the MSM is biased toward Liberals and people don’t really want to hear about what happened 15 years ago, they want someone to blame that is in Office NOW!

  4. Reply
    Stephen M
    May 2, 2011 at 7:37 am

    Hold on.
    Lets fix the problem first. The blame will come out afterwards and look at what caused it so it does not happen again.

  5. Reply
    PianoPianoPiano
    May 2, 2011 at 7:40 am

    Because that is not the cause of the meltdown…at least not a large part of the meltdown. One of the biggest reasons was the use of treasury notes for Fanny Mae. That was the beginning of the end. That’s when we started to use our own money to pay ourselves, hence lowering the value of the dollar…and we never let Fanny Mae and Freddie Mac die out like we should have years ago….it is also caused by deregulation of these companies and allowing them to become too powerful.

  6. Reply
    phil
    May 2, 2011 at 7:54 am

    I wonder if the bankers & CEOs knew the taxe payers would have to bail their sorry butts out. The media is probably getting a slice of the pie.

  7. Reply
    Son of Liberty
    May 2, 2011 at 8:39 am

    It’s not being reported because the mainstream news media are all Democrats and the truth is not in their best interests in promoting Obama. It was actually Janet Reno threating the banks with law suits by the Justice Department if they didn’t relax their rules.

    Step two was the banks said fine and sold their junk to Fannie/Freddie operated by Franklin Rains, another Obama buddie thrown under his political bus.

    Part three was McCain attempt to fix the problem in 2005 when all Democrats voted against. his bill.

    Part four was when the Democrats failed to listen to Fed Chair Allan Greeenspan when he warned of the upcoming.

    It is what it is.

    Obama chants “change”, but has he ever actually changed anything? NO

    Obama chants “yes we can”, but can he say “yes we did”? NO

    Has Obama ever, ever, voted against his party or challenged them in any way? NO

    Has Obama ever written or introduced legislation with co sponsors of the other party? NO

    How is Obama going to effect “change” if he has done none of this?

    McCain has done each and every one of the above multiple times.

    Country First, Not Last
    McCain/Palin ’08

  8. Reply
    Fez
    May 2, 2011 at 9:28 am

    No politician held a gun to any lender’s head and forced them to hand out mortgages to people who couldn’t afford to pay them. Let’s put the blame where it belongs … with the greedy, shortsighted people who ran these companies.

  9. Reply
    Marvin the Martian
    May 2, 2011 at 9:53 am

    You are absolutely correct, but this was a problem that the Bush administration should have fixed.

    Many people live in an eternal present. They have no real concept of time. The idea that there is a linear chain of causes and effects is not something they can really get their brains around. That is why they insist Bush is the worst president in history, he is the only president in their history, irrespective of how long these people have lived.

    Bush has caused some massive problems that will arrive on the desk of some future president who will be blamed because few people can grasp the idea of events playing out over years, decades, or centuries.

  10. Reply
    Leave it to Beaver
    May 2, 2011 at 10:32 am

    Oh I am soooo glad you point this out. Apparently your trying to say that Republicans are inept at making changes. What your referencing happened in the 90s. Republicans have had the govt locked up for a while with a majority in the house and the senate and a republican President. You’ve just PROVEN they are inept.

    The reality is that this Act http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act which McCain voted for and Phil Gramm (McCains current FINANCIAL ADVISOR) led to the downfall of Mae and Mac. Why do you ask? Doesnt anyone remember about a year ago the mortgage business took a hit? Everybody’s real estate values went down!!! Hello, don’t you think that has SOMETHING to do with it. What caused the real estate market to go down? Specualtors and wall street traders losing confidence in the market. Why did this affect real estate now and not before? Because before 1999 we had the http://en.wikipedia.org/wiki/Glass_Steagall_Act enacted after the Great Depression. Served us well too.

    God Bless America (and not just one party or the other, the whole country)!

  11. Reply
    Rebecca
    May 2, 2011 at 11:29 am

    Because the bigger picture is that when the fed dropped interest rates every one went rushing to buy a home and the home prices ran up artificially high. People were seeing home prices double in my area over the course of just 2 years so they used poor judgment to get loans on homes that they couldn’t afford gambling on the bet that prices would continue to rise in to the stratosphere which would give them equity allowing them to refinance before the interest only period was through on their loan. When the market started correcting alot of people lost that gamble big time. I wasn’t a huge fan of Clinton but to pin it on him would be a huge oversimplification of what happened, that was just one very small piece of the Puzzle.

  12. Reply
    worldpeace
    May 2, 2011 at 12:25 pm

    the crisis happened because of a number of issues

    borrowers deserve some of the blame, yes, but so do lenders

    lots of lenders made poor decisions, and wall street bankers underestimated the risks. that is their own fault

  13. Reply
    Hannah's Grandpa
    May 2, 2011 at 12:33 pm

    Because Bill Clinton is not running for president, John McCain is.
    And Obama was working as a college lecturer, and an Attorney.

    McCain 1 of 100 senators voted for it, Biden 1 of 100 senators voted against it.

    While Bill Clinton 1 of 1 presidents signed it.

    By the way Bill Clinton is very proud that Obama is now using his advisers.

  14. Reply
    tehabwa
    May 2, 2011 at 12:53 pm

    Are you SURE they weren’t backed in any way?

    And you don’t at all blame the complete deregulation and lack of oversight AT ALL?

    The Republicans have been largely involved during the entire downhill slide of our economic well-being, for 28 years.

    Yes, Clinton was president, but he mostly had a hostile, Republican Congress.

    Yes, Democrats have had a majority of Congress since 2007, but the Repulicans have blocked them at nearly every turn.

    Republicans have ruled this country for 28 years.

    Yet there are people who blame Democrats for all of the damage Republicans have caused. What does it take for such people to see that deregulation is a bad idea; that tax cuts for the rich are a bad idea; wars of choice are a bad idea; increasing the chasm between the few who own everything and everyone else with nearly nothing; that allowing the corrupt to write the laws that allow them to steal everyone else’s money is a bad idea?

    Uh, you’ve misinterpreted what the article says. It doesn’t say anything about lending to those who can’t pay, but lending to people and businesses that aren’t Wal-Mart-sized entities. NOT the same thing at all.

    I thought the right was supposed to like encouraging new businesses and small business owners, and just folks buying homes. (Well, I meant PRETEND to like; they’ve long been clearly pro-HUGE business, only.)

    If you could read, you’d have seen that it generally toughened up standards by making them more standard (toughening them in places where they had been looser).

    Republicans seem to have made a permenent career out of screwing everything up, then blaming Democrats.

    It’s not being reported because what you’ve written isn’t true.

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