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Time for the Government to Start Playing Fair
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<blockquote data-quote="Lue C Fur" data-source="post: 718032" data-attributes="member: 25159"><p>Really? I guess im reading something different:</p><p> </p><p><span style="color: blue">Ironically, if the administration really wanted to go after mortgage-backed fraud, it needs to look no further than the government. <a href="http://johnrlott.blogspot.com/2010/04/greenspan-finally-blames-congress-for.html" target="_blank"><span style="color: #315771"><strong>As Alan Greenspan testified two weeks ago</strong></span></a><strong> before the Financial Crisis Inquiry Commission: "While the roots of the crisis were global, it was securitized US subprime mortgages that served as the crisis' immediate trigger. The surge in demand for mortgage backed securities was heavily driven by Fannie Mae and Freddie Mac which were pressed by the Department of Housing and Urban development and the Congress to expand affordable housing commitments."</strong></span></p><p><span style="color: blue"><strong></strong></span></p><p><span style="color: blue"><strong>Greenspan also witnessed, first hand, this pressure on banks to issue mortgages that they didn't want to sell: "I sat through meeting after meeting in which the pressures on the Federal Reserve -- and on, I might add, all of the other regulatory agencies -- to enhance lending were remarkable."</strong></span></p><p><span style="color: blue"><strong></strong></span></p></blockquote><p></p>
[QUOTE="Lue C Fur, post: 718032, member: 25159"] Really? I guess im reading something different: [COLOR=blue]Ironically, if the administration really wanted to go after mortgage-backed fraud, it needs to look no further than the government. [URL="http://johnrlott.blogspot.com/2010/04/greenspan-finally-blames-congress-for.html"][COLOR=#315771][B]As Alan Greenspan testified two weeks ago[/B][/COLOR][/URL][B] before the Financial Crisis Inquiry Commission: "While the roots of the crisis were global, it was securitized US subprime mortgages that served as the crisis' immediate trigger. The surge in demand for mortgage backed securities was heavily driven by Fannie Mae and Freddie Mac which were pressed by the Department of Housing and Urban development and the Congress to expand affordable housing commitments." [/B] [B]Greenspan also witnessed, first hand, this pressure on banks to issue mortgages that they didn't want to sell: "I sat through meeting after meeting in which the pressures on the Federal Reserve -- and on, I might add, all of the other regulatory agencies -- to enhance lending were remarkable." [/B][/COLOR] [/QUOTE]
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