Posted in Uncategorized | Tagged carter, clinton, community reinvestment act, mortgage crisis, subprime |
You guys are getting pretty desperate:
6/17/2002 “Fannie Mae, Freddie Mac and the federal Home Loan Banks — the government-sponsored corporations that handle home mortgages — will increase their commitment to minority markets by more than $440 billion, Bush said.”: http://archives.cnn.com/2002/ALLPOLITICS/06/17/bush.minority.homes/index.html
Also please see Bush’s efforts to arbitrarily increase home ownership numbers by minorities through sub-prime lending here: http://www.whitehouse.gov/infocus/homeownership/homeownership-policy-book-ch2.html
-A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market
-A commitment to raise $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas
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