Monday, November 10, 2008

The Clinton Toxic Loan Legacy

‘The origin of the subprime debacle was the well-intended affordable housing legislation passed under the Clinton administration that enjoined the banks, under pain of sanction, to lend to previously unqualified mortgage applicants’

November 2008

www.financialworld.co.uk

Another comment on laws of unintended consequences...

Or as the 1996 US presidential election bumper sticker said, "The road to Hell is paved with Liberals".

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