Federal Government Was Culprit in Housing and Economic Crisis

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The report talks about the Clinton administration’s National Homeownership Strategy, citing President Clinton’s directive to “lift America’s homeownership rate to an all-time high by the end of the century.”

The Clinton strategy further said that Freddie and Fannie should reduce down-payment requirements and, according to the report, “called for increased use of ‘flexible underwriting criteria,’ which it said could be achieved in concert with ‘liberalized affordable housing underwriting criteria.’”
 
“That is the perfect smoking gun that tells how Barney Frank [D-Mass.], the Clinton administration and others would do it in those days,” Rep. Darrell Issa (R-Calif.), the ranking member on the House Oversight and Government Affairs Committee, said Tuesday in a speech at the Heritage Foundation. Click Source to read more.

The truth is starting to come out, and now Obama is making it worst with his big spending policies!

LINKS:

(1) Barney Frank Looks To Steal TARP Money

(2) Document drop: Porkulus One is a failure, so let’s do it again! By Michelle Malkin

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