Smoking gun article: liberals, Democrats, poor people and non-Asian minorities caused financial crisis |
| Published: September 30, 2008, 11:51 am |
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A reader sent me a link to yet another smoking gun NY Times article from 1999 demonstrating how the current credit crisis came about. 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. We see that the motivation behind loosening credit was to give more loans to minorities. Liberals failed to consider that these minorities were inherently bad credit risks, because we all know that credit standards are how the white racist majority keeps the black man down. 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. We see that the Democratic Clinton Administration was pushing for [ Full article ] |
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