Was it after Fall 2006 when home prices stumbled?
Giving loans to people that could not afford homes created the housing bubble (which is now collapsing). The housing bubble started in the mid-1990’s when Clinton started pushing for homeownership via ARM’s, subprimes, etc..
U.S. Federal Reserve
http://www.frbsf.org/publications/economics/letter/2006/el2006-30a.gif
gabriel bell
May 17, 2010 at 3:09 pm
nah are you kiddng they hand it out like candy ..and now you get the bill for other peoples fail…aint democrats and republicans great.
bikerphilosopy
May 17, 2010 at 3:28 pm
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
The Republican
May 17, 2010 at 4:00 pm
Oh, you mean he did? I wasn’t aware of that. I thought he was being paid off by the crooked mortgage lenders. Why bite the hand that feeds you?
OBAMA IS AN INDONESIAN CITIZEN
May 17, 2010 at 4:55 pm
he voted against McCain/Republican regulations in 2005
I don’t know the year he sued Citicorp forcing them to make unleveraged loans
Put on a Happy Face!
May 17, 2010 at 5:31 pm
You know what, funny you asked this question. I just finished watching this very informative video. It will answer your question more logically than I….
http://www.youtube.com/watch?v=usvG-s_Ssb0
DF
May 17, 2010 at 5:40 pm
Obama NEVER pushed for subprime loans for ANYBODY.
ioerr
May 17, 2010 at 6:15 pm
Loans to the poor weren’t the problem.
The problem was that the private mortgage industry was making very deceptive and dangerouos loan agreements, they made no attempt to accurately gauge the risks involved with those loans, and they fraudulently sold them as sound investments.
Nobody pushed the mortgage sellers to defraud their investors. They did it because they wanted the money.
Just like any other kind of criminal.
Shelly M
May 17, 2010 at 6:22 pm
Giving housing loans to the less fortunate is not the problem. The problem is when the crooked Republican bankers, the ones who want welfare for themselves, raise the hidden interest fees so the poor then can no longer afford the payments.
ProZack
May 17, 2010 at 7:03 pm
hmm, did he actually stop?
I am sure they put it on hold for a moment but give it time, they will go back to more of the SAME soon enough! Once they figure out we are dumb enough to bail them out of their mistakes once again. (this goes for all of them!)
slew
May 17, 2010 at 7:52 pm
He supported the bail out, so he never did stop supporting the subprime loans.
John V
May 17, 2010 at 8:16 pm
Obama received $105,000 dollar contribution from Frannie and Freddie
My Hero: Miss Piggy!
May 17, 2010 at 9:00 pm
The bias media is pushing hard to make this seem like it is mcCain’s fault. Very hard. Almost ot the point of absurdity. I have no faith in the american electorate if they allow this to slip past them. They will deserve everything they get. They elected bush and now they are replacing him with someone just as incompetent. It blows my mind.
pablo_asawa
May 17, 2010 at 9:34 pm
when he found out the default rate was 95%