Subprime Disaster – President Clinton Takes Credit for Community Reinvestment Act Loans

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Uploaded by retrogo on Apr 7, 2010 “The Community Reinvestment Act was set up to say to the bank regulators: Look, you guys go in and look at these banks and…
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Private hard money lenders in Augusta Georgia on http://www.lendinguniverse.com Council determination under section that a nonbank financial COMPANY is to be…
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17 Responses to Subprime Disaster – President Clinton Takes Credit for Community Reinvestment Act Loans

  1. +getfitafter50
    The CRA was old but Clinton expanded it; ”in the 20 plus years of the CRA
    85% of the money loaned out to poor intercity neighborhoods has been loaned
    out since I’ve been president” – Bill Clinton
    I don’t see how you missed that part…

  2. And those were reasons for the housing boom due to the 80/20 loans, the no
    down payment loans, the liar loans, and the lack of lending standards. The
    US Governments GSOs Freddie Mac and Fannie Mae own about half of the US
    Mortgages too. Yeah, export jobs through NAFTA and lowering of trade
    barriers, while also increasing government regulation and taxes. Yep, you
    could not engineer a collapse of the financial sector better Billy. Looks
    like the Chinese got their monies’ worth for the sleep overs and the
    lunches. Fucking sold this country out and destroyed the economy. BTW, yes
    Bush was not much better than Clinton. Obama and Hillary Clinton (2016)
    will finish the USA off.

  3. Firstly, those loans created a false market to which all buyers had to take
    part- even investors.That is His fault. Many are still able to make their
    payments even though their properties are underwater. Secondly, You’re
    Stupid. ha!

  4. They set the new lower standards, accused the banks for red lining and
    discrimination for NOT making the loans etc. Add in the new risk standard
    at Fannie Mae 2002, and there is NO DOUBT the DEMOCRATS cratered the
    housing market. Stick with your strawman arguments and canards.

  5. ‘Passed 20 years ago’ said Bill. He was only president for 8 years. Your
    title is unthruthful, disspelled by your own video- why should we believe
    you??????

  6. Jimmy Carter started the program, Bill Clinton doubled up on it and
    strengthened guidelines, thresholds and penalties to put it over the top.

  7. I remember the Clinton DOJ threatening lenders with Race charges if they
    did not give loans to poor neighborhoods. You can’t blame lenders after
    that. Blame Clinton. He brags about those loans on this video!

  8. Clinton sicked AttyGen Reno on banks that would not go along with
    “affirmative action subprime mortgage lending”….hence Andrew Cuomo HUD
    secy who sued Accubank in Texas, April 1998, for not lending to unqualified
    borrowers..and won $2.1 BILLION in subprime mortgage loans..which was the
    catalyst for all banks in our nation to lend which gave us crap that we
    will be eating until 22nd century! Accubank was just one bank and that’s
    why the banks caved…full force of the govt to come after you!

  9. It was all planned. They knew Gore wasn’t going to win, so Clinton took the
    stops out of Glass-Stegall. That along with the Clinton striking the
    aspirin factory in the Sudan (after his blowjob) and putting a wall of
    lawyers between the CIA and the FBI which gave us 911. They wanted to
    soften us up in time for Obama, who himself pushed subprime mortgages as a
    “community organizer”. And with the American public being beyond stupid,
    they finally did it. Now our goose is cooked.

  10. Don’t bother to watch the video or follow any of the links and only provide
    anecdotal evidence at best. Intellectually lazy and dishonest is the
    progressive way.

  11. Fannie Mae changed its standards, result of the CRA. That’s why CRA were
    only about ”50% of all of the bad loans.”. The other 50% were a result of
    change in standards by Fannie Mae, which is still linked to the CRA.

  12. YOU’RE STUPID. those loans are less than 50% of all of the bad loans. down
    the street from my house, people build houses valued at over 500k. then
    those houses were sold to people who couldn’t afford them. Then they
    defaulted on the loans, and the banks that financed the projects ended up
    with the houses, and a massive oversupply of luxury homes. It is not bill
    clintons fault, it is the bank & housing industry’s faults.

  13. Would lenders stop loaning money, and the Federal Reserve raise interest
    rates 17 consecutive times while record-high housing prices were supported
    by adjustable rate mortgages if Bill Clinton hadn’t repealed Glass-Steagal,
    allowing Wall Street to create credit-default swap insurance against
    mortgage defaults? Wake up people. This isn’t a question about who was
    president when deadbeats bought homes. This is a question of who put the
    American public in the cross-hairs and who pulled the trigger.

  14. Just the beginning of your post shows your child-mad. The rest of your post
    makes no sense. Sounds like a DU talking point.

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