Hindsight is 20/20

Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

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Back off Mrs. Palin, folks! Well, that’s what Bill Clinton says!

OK, now that you are kinda surprised by the comments, don’t be surprised because the man who coined the phrase, “politics of personal destruction” was seeing things from the other side. Whodathunkit? CNN wants to credit Karl Rove’s Wall Street Journal article for telling Obama to back off, but honestly, the vibe against Palin was so ridiculously stretched out, that it was starting to make the Dems look like a bunch of desperate bullies. I know I was not the only one saying this. This country is in such sad shape, do we really want the rest of the world noticing that we’re falling over each other trying to place blame and pointing out each other’s faults? (Whoops, too late!) McCain needs to back off as well. Those ads were the biggest wastes of Rep money (which are no longer on the McCain website). Spend it on an economist that can best explain the economy and how we can get back in black!

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