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Clinton-era NY Times article about Fannie Mae


Once again, we can see where fault lies with this entire bailout.  The seeds were planted a long time ago, but even then, there were people very clearly predicting exactly what would happen — and WHY and HOW it would happen.

Ironic that it would appear in the New York Times.

The whole thing was caused by giving people loans who couldn't afford to pay.  Who do you think was pushing that kind of thing?

Here is a single salient page from a New York Times article dated September 30, 1999.  It's very brief, and well-worth a look.

Fannie Mae Eases Credit To Aid Mortgage Lending
New York Times, September 30, 1999

Entry #457


Comment by scorpio - October 3, 2008, 4:47 pm
it's not over yet!
sysp34Comment by sysp34 - October 4, 2008, 2:51 am
mmm i though the bailout for giant financial service who lost on Subprime mortgage crisis i guess this is only an iceberg and bailing out wallstreets only a short-term to ease abnormal investor but the real market doesn't change, it seem wallstreet have a bug to fix it :-)

konaneComment by konane - October 4, 2008, 9:01 am
Believe it was 1994 when Clinton signed legislation .... amid plenty of warnings .... which allowed corporations and businesses to overstate their assets precipitating massive bankruptcies.

Coupled again with another Clinton era law allowing mortgages to be granted to unqualified unfunded buyers ..... fast forward to today.

Could it have been done deliberately to collapse the economy????????????

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