Economic Collapse – Obama Clinton SubPrime Bomb
In 1997 African Americans were denied qualification for mortgages at twice the rate of white borrowers. Bill Clinton's HUD Secretary Andrew Cuomo sued banks for descrimination and was awarded over $2.1 billion. It was called Banking Affirmative Action.
Sat Oct 30, 2010
Subject: Andrew Cuomo Lit the Sub Prime Fuse
Why you need to care about the NY election (Cuomo ruined the US economy)
Barney Frank and Chris Dodd created the bomb, Cuomo lit the fuse.
Barney Frank and Chriss Dodd made the laws that allowed FANNIE and FREDDIE to guarantee bad loans, but Andrew Cuomo SUED the first bank for 'discrimination' for what was at the time the largest award in history $2.1 billion dollars.
This sent a message to all other banks.
1) Fannie and Freddie will guarantee bad loans 2) If you dont make those bad loans, we will sue you too
Both parts were necessary to set off that explosion, and this is why your 401K is worthless now.
This video is Andrew Cuomo lighting the fuse of the housing meltdown. And proudly saying so.
Please email these video links to everyone you know! This video has to go viral this weekend.
The media is ignoring it while they search to see if Carl Paladino’s dog has a license (100% not joking about that)
Tags: ACORN, Andrew Cuomo, Bank Bad Loans, Barack Obama Civil Rights Lawyer, Direct Action, Fannie Mae Fraud, Foreclosure Fraud, Foreclosuregate, Fraudclosure, Freddie mac Lies, Lehman Brothers, Mortgage Fraud, Ninja Loans, Risky Loans, Securitization, Sub Prime Loans, Wachovia, WAMU, www.freerepublic.com