Who caused the Housing Crisis of 2008??? Ask Slick Willy
In 1999, President Clinton signed the Financial Services Modernization Act, which tore down Glass-Steagall's reforms by removing the walls separating banks, securities firms and insurers.
Under President Clinton, the government became eager to promote home ownership to Democrats. Interest rates were low, the market grew for loans to borrowers with weak credit and private-sector mortgage bonds boomed. About 38 percent of those bonds were backed by subprime loans. They are at the root of today's financial crisis.
Libritards will want to Blame Bush but you are the losers - and the country has suffered. Now we have Oslimo to deal with who is even more worthless then BJ Clinton.
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