Man Made Global Warming

[jimson8]

Originally Posted by Wolf_Rider

The Clinton administration basically made it law (Community Reinvestment Act) that banks could not refuse homeloans to anyone in the their area. ie They made it so banks had no choice but to give loans to people who could not afford them.

Yep, the seeds for the housing market implosion were planted long ago.

The other interesting fact is that the repeal of the Glas-Steagal act that allowed lenders to bundle up bad mortgages and sell them as Wall St securities was also signed by none other than Bill Clinton.

Not that the repeal should be laid solely at Clinton's feet, it was definitely a bi-partisan effort.