I wish Bill Clinton was president again the 90s were exciting economy was great america was great
41-45, M
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Reason10 · 70-79, M
KKKlinton left the country with a RECESSION and a ticking 911 time bomb.
He and KKKarter are tied as the two WORST presidents of the 20th Century.
You REALLY wanted to open that can of worms?
https://reason.com/2012/10/14/clintons-legacy-the-financial-and-housin/
Clinton, however, sowed the seeds of the Great Recession by helping to inflate the housing bubble, a key part of the financial debacle of 2007. But this wasn't because he (not George W. Bush) signed two financial deregulation bills. Although Clinton legalized interstate banking in 1994 and commercial/investment banking combinations in 1999, that had nothing to do with the meltdown.
Clinton's contribution to the crisis lay in his appointment of Cuomo to HUD. Cuomo became HUD secretary in 1997 after becoming assistant secretary in 1993. In a heavily researched 2008 article in the Village Voice, Wayne Barrett writes,
Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded 'kickbacks' to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.
He and KKKarter are tied as the two WORST presidents of the 20th Century.
You REALLY wanted to open that can of worms?
https://reason.com/2012/10/14/clintons-legacy-the-financial-and-housin/
Clinton, however, sowed the seeds of the Great Recession by helping to inflate the housing bubble, a key part of the financial debacle of 2007. But this wasn't because he (not George W. Bush) signed two financial deregulation bills. Although Clinton legalized interstate banking in 1994 and commercial/investment banking combinations in 1999, that had nothing to do with the meltdown.
Clinton's contribution to the crisis lay in his appointment of Cuomo to HUD. Cuomo became HUD secretary in 1997 after becoming assistant secretary in 1993. In a heavily researched 2008 article in the Village Voice, Wayne Barrett writes,
Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded 'kickbacks' to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.