Originally Posted By: JoJo
Here's an article from 1999 before GW was president that pretty much forcasted what would happen if the economy slowed.

From New York Times Article

"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's"

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New York Times Article 1999


Looks like they nailed that one. I thinkl Obama needs to convene a bipartisan panel to investiget exactly what went wrong. I really don't too much care who is found to blame. I think Dems had a hand as did Repubs. So be it. Let's find out what happened and do what ever it takes to keep it from happening again.

I do know Clinton was an advocate for more loans to low income families. I know Bush was fully supportive of that and the Phil Graham pushed hard for less regulation. Plenty of blame. Now what's the solution?
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