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The Original Subprime Crisis
December 27th, 2007 Corruption, Mortgage Blog, Subprime lenders, Uncategorized, subprime meltdown

WHILE critics of today’s mortgage crisis call for government intervention to suppress subprime lending, few are aware that government intervention created subprime mortgages in the first place. The National Housing Act of 1968, part of President Lyndon Johnson’s Great Society, provided government-subsidized loans to expand home ownership for poor Americans. Liberal policymakers hoped that these [...]

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