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So it was Bush that was responsible for Housing Crisis?

hypocritexposer

Well-known member
I guess now that Bush has been made the scapegoat, it's safe to elect Cuomo as NY Gov... whatever is best for the Country, I guess.

:roll:


CUOMO SAYS BILL SIGNED BY PRESIDENT CLINTON SOLVES SECTION 8 CRISIS BY PRESERVING AFFORDABLE HOUSING AND SAVING TAXPAYERS BILLIONS
WASHINGTON -- Legislation signed into law today by President Clinton will avert an affordable housing crisis that could have threatened up to 4.4 million Americans with homelessness, Housing Secretary Andrew Cuomo said.

Cuomo said the signing by the President of the Department of Housing and Urban Development's appropriations bill completes the work of solving the Section 8 crisis -- a goal Cuomo set as his top priority when he became Secretary.

"President Clinton and the Congress have worked together in bipartisan cooperation to solve the Section 8 crisis," Cuomo said. "The legislation signed by the President today is an historic achievement -- the first major housing legislation enacted in six years. The President's action will prevent many families from being put out on the street, averting an unprecedented explosion of homelessness nationwide."
http://archives.hud.gov/news/1997/pr97-242.cfm


Andrew Cuomo and Fannie and Freddie
How the youngest Housing and Urban Development secretary in history gave birth to the mortgage crisis
By Wayne Barrett
published: August 05, 2008

There are as many starting points for the mortgage meltdown as there are fears about how far it has yet to go, but one decisive point of departure is the final years of the Clinton administration, when a kid from Queens without any real banking or real-estate experience was the only man in Washington with the power to regulate the giants of home finance, the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), better known as Fannie Mae and Freddie Mac.

Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.

http://www.villagevoice.com/content/printVersion/541234?ref=patrick.net
 
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Anonymous

Guest
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.
 

hypocritexposer

Well-known member
shaumei said:
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.

Thanks for letting us "morons" know.
 

hopalong

Well-known member
shaumei said:
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.


Go back and read some of your posts where you blame BUSH and see where you just contradicted your self, that then makes all your posts suspect
 
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Anonymous

Guest
hopalong said:
shaumei said:
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.


Go back and read some of your posts where you blame BUSH and see where you just contradicted your self, that then makes all your posts suspect

i did not blame bush for much of anything...i blame him for having gay sex in the white house with male prostitutes...that sucks..no pun intended..
 

Tam

Well-known member
shaumei said:
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.

So Bush wasn't a fault :eek: :shock: as He just went along so he wasn't shot like JFK. :???:

OH Oldtimer is going to come unhinged :shock: when he reads Bush had no option if he wanted to survive.
 

Tam

Well-known member
shaumei said:
hopalong said:
shaumei said:
do you actually think the president has a say in anything? he is told what to do...dem or rep does not matter..the question is will they go along...the last one that did not is JFK.


Go back and read some of your posts where you blame BUSH and see where you just contradicted your self, that then makes all your posts suspect

i did not blame bush for much of anything...i blame him for having gay sex in the white house with male prostitutes...that sucks..no pun intended..

And of course you know this because you were looking in the window. Did you happen to make a youtube video so you can prove what you claim? :? :roll:
 
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