> Jake wrote: > "Fannie Mae, the nation's biggest underwriter of home mortgages, has been > under increasing pressure from the Clinton Administration to expand > mortgage loans among low and moderate income people
All of this is true, but the low-income loans are NOT sub-prime loans, they are loans to low-income folk with well documented income and/or significant down payments. The irony here is that Fannie and Freddie were worried about LOSING OUT on sub-prime! They needed a bailout not because of sub-prime, but because their prime loans were failing due to falling prices. Fannie and Freddie did not cause this problem no matter how much Robert wants to point the finger at anyone besides himself for voting for Bush. Twice. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271662 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
