Why Do You Fools Blame Republicans When Democrats Control Congress?
In general, you'll find most democraps won't take responsibility for their poor investment decisions. They need someone to blame for their lost investment. Moreover, it has been shown that HUD, under Clinton appointee Andrew Young pressured FNM and FRE to make loans to minorities, to allow them to "participate in the American Dream". Obviously, in the past, minorities weren't able to secure loans, based on credit ratings systems, but HUD wanted the system "tweaked" to give minorities greater access to credit. What a shock that people haven't been able to repay their loans. The "arbitrary" rules that banks have followed for decades were put aside, in favor of affirmative action in credit. Speculators also played a large part in the housing collapse as well, but all in all, the single largest issue in failed mortgage loans, was giving all kinds of gimmick loans to people, who really didn't have the ability to repay the loans. Of course, you'll never hear the media tell you the real truth about why many of these loans failed, as it doesn't make their agenda look too good.