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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (175272)	1/6/2009 11:34:03 AM
From: Perspective	Read Replies (3) \| Respond to of 306849

<In mid-2002, President Bush urged lenders to add 5.5 million minority homeowners by the end of the decade. In the years that followed, San Diego County neighborhoods with large minority populations would be hard-hit by foreclosures resulting from risky subprime loans. Government-sponsored mortgage giants Fannie Mae and Freddie Mac ensured that funds were consistently available to lending institutions. Under pressure from the Bush administration, Fannie Mae and Freddie Mac increased their funding of mortgage loans to lower-income borrowers. > Interesting to see Bush associated with this, as Faux News has my father convinced it was the Dems. Of course, the reality is that it is both. The whole blue vs. red political party bashing is just noise to prevent J3P from the real issue - that whoever was running Fannie, Freddie, and all our banks have bought the government - BOTH PARTIES - and the rules are written to transfer wealth to them regardless of who is in government. Have I said it lately? Campaign finance reform is the only hope for saving our democracy... `BC