Obama is s community activist and community orgnizer. This is his MO and the glasses though which he views the world, the hammer with which he swings at all nails real and imaginary. The Association of Community Organizations for Reform Now (ACORN) pushed for legislation to make loans easier to get for the "poor". It was the sympathetic ear of the Clinton administration that worked to deregulate the banking industry and specifically reformed Freddie and Fannie to make it easier to get mortgage loans. It was Barney Frank's paramour, Herb Moses, who held a high position at Fannie Mae from 1991 to 1998 while Frank was chairman of the senate banking committee, who designed the programs for the subprime lending market.
A Democrat undertaking all the way.
True enough that all who came later, presidents, congress, senate, both sides stood by while all this played out.
All the present financial woes trace their origin to the community action mucking by ACORN and the subsequent donations from Freddie and Fannie to the representative to turn a blind eye, the five top recipients being Democrats and include Frank and Obama.
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