Threefer...

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WhoCaused the Financial Meltdown
There is something genuinely sickening about seeing Rep. Barney Frank (D-MA), House Speaker Nancy Pelosi (D-CA), and others trying to stick President Bush and the Republicans with the blame for the financial meltdown that has put the American taxpayer in hock for the problem they created.
.....One need only read The New York Times, September 30, 1999 article by Steven A. Holmes, headlined “Fannie Mae Eases Credit to Aid Mortgage Lending”...
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Fannie Mae Strong-Arm Monitoring of Race

CW Underwriter: I need your help on the "Smith" file. We need you to complete the Government Monitoring Section of the 1003.

Broker: I did complete the Government Monitoring section.

CW Underwriter: But you haven't filled in the borrower's Race or Ethnicity.

Broker: If you notice, the Borrower checked the box indicating: "I do not wish to furnish this information."

CW Underwriter: You also checked the box indicating that this interview was done face-to-face.

Broker: So?

CW Underwriter: So you saw him. Is he black?

Broker: I don't understand. My client indicated his preference to keep this information to himself.

CW Underwriter: Well, you saw him and you know his race and ethnicity. Our ability to fund our deals and source new money depends on doing a certain percentage of loans with black and minority clients. If you want this loan underwritten at Countrywide, you need to furnish this information: Is he black?

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ACORN, Obama, and the Mortgage Mess
The financial markets were teetering on the edge of an abyss last week. The secretary of the Treasury was literally on his knees begging the speaker of the House not to sabotage the bailout bill.
.....(Snip) ACORN is where Sixties leftovers who couldn't get tenure at universities wound up. That the bill-writing Democrats remembered their pet clients during such an emergency speaks volumes.
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