Wasnt it democrats who wanted to give mortgage loans to those with bad credit?

...in response to activists and groups such as ACORN, to help those who arent creditworthy to buy homes? sounds really heartwarming and generous, but was it realistic? social security and medicare are also democrat-founded that are practically bankrupt and will cause $44 trillion in debt in the coming years. it will for a certainty, because no one (including republicans) will do anything to fix this issue.Wasnt it democrats who wanted to give mortgage loans to those with bad credit?
Of course, it was Democrats. The only reason poor people couldn't buy homes was because of racism, didn't you know that? But there are other reasons, of course. I must tell you that the third time I tried to obtain a mortgage (first two houses sold), and was put through the regulatory ringer, due to the ';Fair Housing Act,'; I got very disgusted. One might assume that someone who had clean credit, had already obtained and paid off two home loans would be deemed a good risk. So, while all these high risk loans were being made, how many good borrowers were turned down due to regulations?





Pres. Bush tried to deal with Social Security reform and that got tabled. The truth about SS and Medicare is that the AARP is THE most powerful lobbyist in the nation. These wealthy retirees won't let you touch their ';entitlement'; and they don't give a darn if there's anything there for us when we get there.





And Gen-X'ers (and younger), who've been told our entire lives that we would never see it are more interested in legalizing pot, fighting for gay rights or burning flags. If we riot, it should be about our retirements.Wasnt it democrats who wanted to give mortgage loans to those with bad credit?
Nope - the credit crisis was no government action.





It was greedy loan originators ignoring or not checking credit histories and verifying income, and inflating the amount of available credit the applicant could handle.





It was caused by deregulation - a favorite Republican goal.
Wasn't it Phil Gramm, John McCain's top economics adviser, who said we don't need all those messy laws and the market can regulate itself?
Yes it was in response to those like ACORN selling wolf tickets, demanding that everyone be allowed to get a mortgage.
Remember when Clinton signed deregulation in October 1999?