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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Steve Dietrich who wrote (148715)	12/1/2008 1:42:29 PM
From: one_less	1 Recommendation Read Replies (2) \| Respond to of 173976

Right. The Bush Administration should have done more to stop the devastation to our economy that was kicked off by Clinton pushing intervention that would cause millions to get into home loans they couldn't afford. The government intervention of Clinton should never have been manifest in the first place. Bush was hesitant to intervene in the affairs of the housing market, but he should have intervened enough to undue Clinton's medling mistake. I wonder why you didn't know about that. Or if you did, why you failed to mention it. ============== "The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a "historic meeting" of private and public housing-industry organizations in August 1994. The group eventually produced a plan... that argues for creative measures to promote homeownership." —“The National Homeownership Strategy: Partners in the American Dream”...excerpt> "For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."