|
The Original Subprime Crisis |
| December 27th, 2007 under Corruption, Mortgage Blog, Subprime lenders, Uncategorized, subprime meltdown. [ Comments: none ]
|
|
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 [...]
|
|
There’s a new “Tricky Dick” in town… |
| December 16th, 2007 under Corruption, Credit, Economy, Government, Mortgage Blog, Uncategorized. [ Comments: none ]
|
|
So it was that Henry Paulson came up with an idea… the ‘teaser freezer‘ plan. The ARM teaser freezer is being sold to the public as a way to protect homeowners. But it has another purpose, says a reporter from the San Francisco Gate, to help save the banks from their own bad judgment.
Read more…
|
| |
|
|
Archives