NY Times Article Revealed True Cause

iVillage Member
Registered: 09-18-2008
NY Times Article Revealed True Cause
19
Thu, 09-25-2008 - 5:10pm

of Current Fannie Mae Crises...Any chance that the they will reprint their own article so their readers can see the true cause of the mortgage loan crises?

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

1999 NY Times Article Revealed True Cause of Current Fannie Mae Crises
By P.J. Gladnick (Bio | Archive)
September 25, 2008 - 16:25 ET

This is probably an article that the New York Times wishes it didn't have in its archives because it reveals the true culprits behind the current Fannie Mae meltdown. You will find "uncomfortable" truths in this September 30, 1999 article by Steven A. Holmes starting with the title, "Fannie Mae Eases Credit To Aid Mortgage Lending," that you won't find in current editions of the New York Times (emphasis mine):

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. -->click on link to continue http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises

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iVillage Member
Registered: 04-04-2001
Fri, 09-26-2008 - 3:47pm

Obama certainly has had some interesting clients:


Ayers - the unrepentant terrorist


ACORN - found guilty of voter registration fraud in multiple jurisdictions


People suing banks to require loans to persons who otherwise would not qualify.


What a guy!

iVillage Member
Registered: 10-25-2006
Fri, 09-26-2008 - 3:54pm

yeah...the video blames the whole mess on the CRA enacted during the Carter years. The scope of that legislation is so small it doesn't even enter into this whole crisis.

Get real!

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

iVillage Member
Registered: 09-15-2008
Fri, 09-26-2008 - 4:10pm
The original legislation yes, but as the video shows, it was artificially expanded greatly.
iVillage Member
Registered: 10-01-2004
Sun, 09-28-2008 - 10:15am

Raines, Johnson, Barney Frank, Rezco, Obama - buying votes with OUR tax money!


"Change You Can Believe In" - the change that goes from your pocket to the pockets of Obama & Friends


iVillage Member
Registered: 07-25-2006
Sun, 09-28-2008 - 10:31am

<>People suing banks to require loans to persons who otherwise would not qualify.<>


Which makes me wonder, what exactly did Obama do while practicing law prior to launching his political career? Have you ever seen information on his this?



iVillage Member
Registered: 10-01-2004
Sun, 09-28-2008 - 5:11pm
Obama has been very secretive about his "clients".
iVillage Member
Registered: 09-15-2008
Sun, 09-28-2008 - 5:40pm

"Raines, Johnson, Barney Frank, Rezco, Obama - buying votes with OUR tax money"


Exactly.


As a conservative, you try to oppose this legislation and the dems will tell everyone you’re heatless and don’t care about them.

iVillage Member
Registered: 07-25-2006
Sun, 09-28-2008 - 8:03pm

Could it be, that he sued banks to provide


iVillage Member
Registered: 10-01-2004
Mon, 09-29-2008 - 4:02am

Agreed.

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