Monday, March 16, 2009

The Real Culprits

"It was Clinton-era Housing Secretary Henry Cisneros who urged Fannie Mae to spend 42 percent of its money buying mortgages for lower-income people and who suggested that they no longer require down payments. And it was his successor, Andrew Cuomo, who upped the ante to 50 percent of the Fannie Mae portfolio."

~Dick Morris, former political advisor to Bill Clinton

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