Mortgage Rates News - Do you know the news is reporting the mortgage downfall is the fault of the democrates?

Do you know the news is reporting the mortgage downfall is the fault of the democrates?

Public Comments

I don't know how it could be our fault. We didn't elect Bush (twice).
Sounds like you're watching FOX news. Change the channel.
I think there's plenty of blame to go around, and it has been reported that way.
Even before the news I have the feelings it could be them.
This all started with the Clinton administration. Homes for low-income families. Barney Frank and Christopher Dodd (both dems) played a huge part in it. If you watch the videos on YouTube about Fannie Mae and Freddie Mac you will see that the dems actually had more to do with the downfall than anyone else. Two years ago these two were saying that everything was fine when they knew it wasn't. Also people who bought homes that they couldn't possibly afford caused it also.
That wouldn't be FOX News by any chance, would it? Did you notice the Newscaster's nose getting longer?
There were a few Republicans involved......but the Democrats ARE the majority of the parties responsible..... Democrats FORCED lending institutions to lower their lending standards...... threatened them with sanctions and punishments if they did not have sufficient minority loans..... they falsely implied that these loans would be guaranteed by the government .....with the bail out it turns out they were correct but that was not the law or the actual way it was legally..... If Bush had not stepped up..... those banks and lending institutions could easily have been destroyed ( and still might) How did forcing lending institutions to lower their lending standards have such a catastrophic impact?..... when lending institutions were not allowed to "redline"..... and we punished them for NOT lending money to low income minorities .....they rushed right out and signed up thousands.....they did not care because they could "bundle';......that is take the BAD loans and mix them with good loans then sell the "bundle " to bigger firms ( Fannie and Freddie etc).... now the little loan companies were off the hook..... the big companies were assured by Democrats they had nothing to worry about (wrong)..... when the housing bubble burst..... many of those minorities could not pay their morgage.....they returned the house to the bank......BUT the bank could not sell the house.....they ended up house rich and cash poor..... they could not pay their employees.....they could not loan money they did not have..... all their money was in homes they could not sell... There were a few Republicans who joined the Democrats.....and McCain tried TWO YEARS ago to stop the crisis and was blocked by the Democrats......even though this crisis has been building for many years ( since Clinton)
you bet ye