Clinton and Fannie Mae
Posted by rantingkraut on October 20, 2008
From the New York Times, September 1999: “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.” (Source, HT: James Bartholomew)
So much for government needing to play a bigger role. To see how UK regulation contributed to the housing crisis, look here.
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