When it comes to the financial crisis, everyone's an expert. But Ann Coulter really gets it. In a column titled
"THEY GAVE YOUR MORTGAGE TO A LESS QUALIFIED MINORITY," Ann identifies the newest Fox News theory on why we got into this mess. No, not greed, not lax regulation, but a combination of conservatives' two least favorite things -- BLAXXX and BILL CLINTON!
Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.With friends like these...
Instead of looking at "outdated criteria," such as the mortgage applicant's credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named "Caylee."
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