Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Jan 9 9:30 AM EST

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To: RMP who wrote (23550)	9/26/2008 8:10:04 AM
From: FJB	1 Recommendation Read Replies (1) of 25522

RE:In so doing, he turned the two quasi-private, mortgage-funding firms into a semi-nationalized monopoly that dispensed cash to markets, made loans to large Democratic voting blocs and handed favors, jobs and money to political allies. This potent mix led inevitably to corruption and the Fannie-Freddie collapse. Despite warnings of trouble at Fannie and Freddie, in 1994 Clinton unveiled his National Homeownership Strategy, which broadened the CRA in ways Congress never intended. Addressing the National Association of Realtors that year, Clinton bluntly told the group that "more Americans should own their own homes." He meant it. I guess we will all pay for this policy. Here is a nice summation of what happened. docs.google.com

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