Friday, October 17, 2008

The problem is debt - by Joseph Farah

Government agencies and officials actively pressured banks to write more loans to people who were poor credit risks. The idea was to make home ownership a national right, rather than a benefit of hard work, savings and achievement. Two government-sponsored enterprises – Fannie Mae and Freddie Mac – were at the forefront of this political scheme.

read more | digg story

No comments:

Post a Comment