Quote Originally Posted by Devils Horse View Post
Wrong as usual.

Barney Frank and affirmative action were huge factors. Read the whole article. Mr. Frank insisted Fannie and Freddie were in groovy shape back when the Bush admin was trying for tighter regulations.

Frank's fingerprints are all over the financial fiasco - The Boston Globe
My wife was a mortgage loan underwriter for a large bank in Lexington during the housing boom. She came home one day and told me that the feds had visited the bank's management and slapped them around for not making what they considered to be an acceptable number of mortgage loans to low-income and minority borrowers. They threatened all sorts of dire implications unless the bank relaxed its lending guidelines. The rest is history.