Monday, November 7, 2011

Blame Clinton Admin for Economic Collapse

On April 15, 1994, the Clinton Administration codified a 20-page "Policy Statement on Discrimination in Lending" that basically told (threatened?) banks to either (a) lend high-risk home mortgages to unqualified applicants in the name of 'fairness', or (b) be branded as 'racist', sued by the Feds for 'discriminatory' lending practices, and denied access to funding from federally-controlled Fannie Mae and Freddie Mac. So began the housing bubble that 15 years later destroyed the U.S. economy. Reports Investor's Business Daily,
And it's still alive today. Obama is building on the fair-lending infrastructure Clinton put in place.

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