Originally Posted By: canvasback
King, in a simplistic way, the Great Recession was caused by Clinton and his ideological drive to put unqualified blacks and others into home ownership.


You're are right Canvasback but actually it started with the CRA Act of 1977 passed during the Carter Administration. The Community Recovery Act was set in place to make it easier for low income people to get mortgages.(AND IMPLEMENTATION OF THIS ACT WAS PART OF THE DEMOCRATIC PLATFORM ).The act was essentially dormant due to high interest rates until the Clinton Administration. That administration with a lot of socialist assistance from "Community Organizers"** cajoled and threatened the lending institutions with lawsuits if the didn't ease lending requirements. The result were "No Doc" and no down payment requirements to get a mortgage. Thousands of these mortgages were given out to totally unqualified buyers.
Reality set in in 2007, AFTER THE BUSH ADMINISTRATION HAD WARNED CONGRESS TO NO AVAIL, and the defaults started leading to the mortgage meltdown. I could go into more detail here but this is the essence of what happened. ANOTHER EXPENSIVE SOCIALIST FAILURE THAT THE "democrats" OF COURSE WON'T TAKE RESPONSIBILITY FOR.
Jim

** The most well known Community Organizer was Obama.

The 2nd Amendment IS an unalienable right.