Quote:
Originally Posted by tpunx99GSX
I dont even think clinton really fucked us. Bush/cheney was a totally different story. When i came to CA and saw how the housing prices were skyrocketing and the way it was coming about all i could say to myself is "oh shit here comes trouble." A) Because i knew someday i would actually like to purchase a house and the inflated prices would be seriously hard to get approved for if they stayed high and B) What happens when everything comes to a crashing hault. At the time i was roomate with a guy who was in the home loan industry for these questionable people who did not deserve to get loans. He was pulling some shady stuff to get people approved and the company he was working for was helping along the way. I knew then that it didnt seem right and thankfully did not join those who we are now bailing out.
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You gotta open your eyes kid. I'm not going to sit here and tell you none of this would have happened if it weren't for Clinton, but to say he isn't part of the reason we're totally fucked now is a little too much.
The Community Reinvestment Act. Clinton signed it, Bush failed to fix it, and the mortgage companies took advantage of it by grabbing everything they could get while they could get it. I worked for a mortgage company for a time and underwriting standards basically went from shitty to non existent.
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