The facts:
Thanks to Bill Clinton and the people who screamed no to reforming Fannie Mae and Freddie Mac are now paying the price.
1. push to make loans to people who were not qualified using the community development act – as a real estate broker near Los Angeles we were having 2 to 3 families get on title just to make them qualified. Of course, once escrow closed, you never saw the other people who were on the title. The only exception are the Chines since they are used to living 3 to 4 families in a house.
2. top funds received by people were all in the same party as Obama. He was #2
3. the head of the banking and finance committees were Dodd and Frank (I’m sure that they are glad that Congress bailed them out
4. people that were screaming “no” to reforming the cause of our troubles (Fannie & Freddie) were all from the same party.
YOU CAN NOW THANK THEM FOR WASTING YOUR TAX DOLLAR!!