Sunday, September 21, 2008

Did Weaker Credit Standards Lead to Mortgage Meltdown?

WorldNetDaily reports:
the federal government over the last 20 years pushed the mortgage industry so hard to get minority homeownership up, that it undermined the country's financial foundation to achieve its goal.

"In an attempt to increase homeownership, particularly by minorities and the less affluent, an attack on underwriting standards was undertaken by virtually every branch of the government since the early 1990s
You'll want to read this one.