But hey continue to blame Romney by using a strawman for these so called "Friends" while ignoring the fact that Obama actually worked with those who wished to expand these Subprime loans in a way that created this crisis.
"The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
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."
"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's."
Care to talk to me about being ignorant of chronology again?
But to continue it, what did the Democrats say when Republicans started warning about this?
The spending had began to decline in the last year of a Republican budget ( 2007 ). What happened in the following year budget and further? The Democrats went on "Spending Orgies" and now have a deficit of over 1 trillion a year for each year.
Also I would suggest using quotes, it comes off rude not doing so.
Then you must agree Obama is just the same for flip flopping on his view of mandates, who in the debates against Hillary opposed mandates. And then Pancake Flip Flopped Etch-A-Sketched his position after he won and he had to sign Obamacare.Originally Posted by Brutaka