Capital New York

Smartening up commented on Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks

Bloomberg IS ABSOLUTELY CORRECT. People (that could not otherwise get a loan) basically just had to be able to sign their names and they could purchase a house (WAY ABOVE WHAT THEY COULD AFFORD) with ACORN funneling them towards Fannie and Freddie..and CONGRESS putting heavy FINES in place if Banks didn't give out these loans... It all began in the CARTER administration, slid into the Clinton Administration and finally into the Bush administration, where BUSH attempted to try to put restraints on it, but with a Democratic CONGRESS in place, it would not pass.. ...and here we sit again, with Obama wanting to lead us down the primrose path again... KOOLAID ANYONE?

Posted on November 2nd, 2011 4:18pm