NY Times Article Revealed True Cause
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| 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?
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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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!
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
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
<>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?
"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.
Could it be, that he sued banks to provide
Agreed.
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