Crisis

I heard a radio personality say That relaxed lending policies caused the market to collapse. He said it was the mentality that everyone deserved a home no matter what. He said the Clinton administration encouraged this policy. It was only a matter of time that this would be blamed on the minorities. A friend of mine said she heard Rush Limbaugh refer to it as “reparations”. A United States Senator also leveled blame on minority loans. Well the sub-prime loans could hardly be equated to 40 acres and a mule. These loans did get more people in homes, but they also led to more foreclosures because people simply could not afford the payments, but along the way the loan makers made millions as they traded the bad paper back and forth. So now it's time to pay the piper and it looks as is those that got theirs first expect those of us who haven't made a dim to pay up. The power was in the hand of the lender, and it is truly shameful to now try to blame the borrower.