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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Why have liberals forgotten that it was liberal affordable housing policies that caused the mortgage meltdown?

Why have liberals forgotten that it was liberal affordable housing policies that caused the mortgage meltdown?

The banks didn’t lend money to people who couldn’t pay it back until laws enacted by liberals like Barney Frank, et al., made it a requirement. Fannie and Freddie were used by the liberals to make it profitable…until it wasn’t.

Remember, the “great recession” was caused by mortgages, not by the banks, and not by any policy of the Bush administration. And the mortgage insolvency was the fault of the US government. Period.

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10 Responses to "Why have liberals forgotten that it was liberal affordable housing policies that caused the mortgage meltdown?"

  1. FLSwampBoy says:
    I must have missed it when the Government created the credit default swaps and sold them to unsuspecting investors…
  2. Tortureking says:
    Why are republicans forgeting

    PEOPLE THAT OWNED THE HOUSES

    LOST JOBS TO CORP OUTSOURCING

  3. Kenny Powers says:
    They haven’t forgotten, they simply choose to ignore it and blame Bush for all that ails them.
  4. Spock (rhp) says:
    oh, but that would mean Bill Clinton did it and, as we all know, he’s a liberal icon and therefore blameless in everything.
  5. KenB says:
    Selective memory is like that
  6. Chewy Ivan 2 says:
    You lie. That had nothing to do with the mortgage meltdown. Deregulating financial institutions caused the mortgage meltdowns. Banks were not required to write more mortgages than they could personally back; they did it because they could sell those mortgages to investment banks, who in turn sold them as toxic stock options. Fannie and Freddie were used as a dumping ground for bad debt by these banks. Private banks and Bush era legislation ruined the economy.
  7. Bill G VII says:
    They know it very well but they are trying to divert attention away from their own guilt
  8. Concerned says:
    That would require they admit the truth.
  9. strata says:
    defeatocrats are always in a state of denial..they know this is true..defeatocrats reasoned..{cough,cough} that if they gave housing ownership to those with zero visible means of payments..they would garner their votes..it’s all about votes..friends
  10. Jaime says:
    No, not at all. The lifting of restrictions during the Bush years led wall street to create stocks based on mortgages and that being said real estate sold homes below their actual value. They were making tons of money and everyone was getting into the cash frenzy. Then reality surfaced and mortgage owners began to default and made those mentioned stock worthless. Its a lot more complicated than this but that is what happened simply said.

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