Did government programs cause the present mortgage "crisis"?

[NOVA]

The push was essentially bi partisan, with each party using their own methods to prove to JQP that they were best at helping people buy their own houses.

The democrats pushed the regulations about "balanced" lending practices. The republicans relaxed other regulations making the sub prime market more attractive to lenders. Between the two of them, they pushed sub prime lending in housing, and essentially caused the resulting crisis. That is why I said "federal government", not 'liberals", not "conservatives", not "democrats", not "republicans" but THE FEDERAL GOVERNMENT.

The "problem" is a direct result of unqualified borrowers defaulting on home mortgages.....
UNQUALIFIED BORROWERS.....high risk, low income, etc.....

These are the borrowers that were "victims" of bias...??? No...they were and are unqualified to even be considered for home mortgages....now you figure out who thought these poor folks should be new home owners.....the banks or the liberals....who gained?

 

[Good Luck]

The "problem" is a direct result of unqualified borrowers defaulting on home mortgages.....
UNQUALIFIED BORROWERS.....high risk, low income, etc.....

These are the borrowers that were "victims" of bias...??? No...they were and are unqualified to even be considered for home mortgages....now you figure out who thought these poor folks should be new home owners.....the banks or the liberals....who gained?

Again, the federal government as a whole. Unqualified borrowers would not have been accepted - even under the new CRA regs, if the republicans had not also relaxed lending laws to make high risk lending profitable - and therefore attractive to the lending industry. BOTH parties/philosophies were trying to out do the other in proving who could do the most in allowing people to buy homes. BOTH were involved in the push to sub prime lending market, BOTH are ultimately responsible for the resulting mess.

 

[Cancel 2016.2]

The sub prime industry is responsible for its own lending habits. Democrats are not responsible for any "climate" that facilitated anything. Why don't you give me a date for this supposed "congressional pressure" movement that happened so I can show you that the sub prime industry has been around longer?

1995 Fair lending act

For full disclosure... this was NOT just the Dems/Liberals pushing this shit. It was the Reps right along side of them. Passed by a Rep Congress and signed by a Dim President.

 

[uscitizen]

1995 Fair lending act

For full disclosure... this was NOT just the Dems/Liberals pushing this shit. It was the Reps right along side of them. Passed by a Rep Congress and signed by a Dim President.

Yep and I wonder who spent lots of money lobbying for it's passage ?

the same ones lobbying for the bailout.

And they will come out smelling like a rose at our expense.

 

[Good Luck]

Yep and I wonder who spent lots of money lobbying for it's passage ?

NAACP among others. If you think back, you'll probably remember.

The banking industry was actually resistant at first, until they were promised relaxed regulations to account for high risk lending.