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10-04-2008, 12:20 AM #12
OPSenior Member
what you get for $850 billion
sorry beef, i don't accept allan keyes renew america, stuck on stupid.com, or officially chapped.org as objective sources of information...i searched bloomberg news for your fourth link but didn't find the article...the you tube propaganda video (which is picked apart in the comments) isn't an objective source of info either...the internet is clogged up with stuff blaming fannie-freddie, bill clinton, and the dems but their role is minor compared to the private financial institutions and george bush
between 1996 and 2004, subprime loans made up 9% of all mortgages (it was about 5% when george bush left office)...between 2004 and 2006 the subprime loans accounted for 21% of all mortgages:
Subprime woes could spill over into other sectors - USATODAY.com
"The companies (fannie and freddie) said they were urged to increase purchases of subprime debt by the Bush administration. The Department of Housing and Urban Development said in 2005 that Fannie and Freddie should increase financing for low-income areas or moderate-income regions with high minority populations to 37 percent of new business from 34 percent in 2001 through 2004. That rose to 39 percent last year." :
Bloomberg.com: Exclusive
when the crap hit the fan, fannie and freddie only accounted for 18% of total mortgage loans:
Bloomberg.com: Exclusive
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