Did Obama help start the mess we're in ?
Obama filed a class action lawsuit for minority housing loans on July 6, 1994.
The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Now everybody ,minorities and whites who couldn't get loans before , had easy money to bid up the housing prices starting in 1998.
Most foreclosed home were the ones sold after the 1998 settlement .
See the CHARTS+FOR+HOUSING+PRICES
Also see class action lawsuit.
Bush was the 43rd President of the United States, serving from 2001 to 2009.Therefore ,Obama started this mess before Bush ever took office.
Not that I thought that much of Bush either.
Have a good day.
Both parties are to blame and yes Obama's support for subprime loans added to the mess. But Obama is just another empty suit spending away the future of younger generations along with the rest of Congress.
You can't over spend your way out of a recession and not suffer a day of reckoning. We're broke and following the PIIGS into a unavoidable sovereign debt crisis.
what a COMPLETE joke!!
Yeah, the repeal of the Glass-Steigel Act by the GOP had NOTHING to do with it.
The fact that this repeal let Lehman Brothers, Bear Stearns and AIG back in realestate had nothing to do with it.
The fact that once these firms were let back in they CREATED (didnt exist before), securitized mortgages, and credit default swaps, which at the time of the burst where equal to MORE THAN THE GDP OF THE WORLD!!!!, had nothing to do with it.
WOW....how blinded can you be?