Image by dmass73 via FlickrHot Air's Ed Morrisey has some exciting footage of Andrew Cuomo, back when he was Clinton's Secretary of Housing and Urban Development. In this video he explains how he is fully aware that by giving loans to low income and minority peoples the rate of defaults on mortgages will increase, yet they go ahead and do it anyway. Why? Well as Andrew Cuomo put it, it's "Bank Affirmative Action." I am truly dumbfounded how minorities can claim that they are still oppressed, when they have their own program to guarantee them a housing loan. I can't get a home loan.
There is no NAAWP(actually there is, but they are a bunch of racist scumbags, so not a legitimate group in my opinion.) ,no United Whitey College Fund( A Texan, back in 2003 started the 'United White Persons College Fund', but hasn't been heard from since.), Airplane magazine(Jet), No Ivory magazine, there is no affirmative action for white people. But all of those things with the exception of affirmative action have been boons on the black community. Now we have Andrew Cuomo telling minorities, "Here's a house." "When you can't afford the mortgage payments, we'll come take it back from you. Be sure to blame the whole thing on George W. Bush.K?"
Yet, let's look at the facts. Franklin D. Raines, former CEO of Fannie Mae, was also the White House budget director under President Bill Clinton. He is a Democrat. Jamie S. Gorelick, a former Deputy Attorney General of the United States, became a Vice Chair of Fannie Mae. James A. Johnson,who ran Fannie Mae from 1991 to 1998, served as vice chairman from 1990 to 1991 and also worked for Walter Mondale. William M. Daly,special counsel to President Clinton and chairman of Al Gore's 2000 presidential campaign. He also served as a Clinton secretary of commerce from 1997 to 2000, and earlier as president of Amalgamated Bank in Chicago. And Walter Hubbell. Hubbell worked for the Justice department.
All of them Democrats, most of them were under some kind of investigation for compensation they received, or other sordid affairs. Many of them resigned their positions at the time, when Fannie Mae came under investigation.
Are we clear so far on how deep the Democrats hand was up the a*s of Fannie and Freddie? Now we throw Andrew Cuomo into the mix, stir briskly, let simmer for a good decade, and viola! A housing market meltdown just in time for the November elections. But I'll let Andrew dig his own grave. Enjoy!