According to one source - in 1977 Jimmy signed into law the "Community Reinvestment Act" which was passed by his Democratic controlled Congress.

Apparently this act required depository institutions to help meet the needs of the communities in which they operate.

So began the sub-prime mortgage fiasco.

In 1995 Billy further loosened the purse strings.

What most will not believe - in 2003 the shrub tried to correct this and in 2005 so did McCain.
On both occasions the Democrats shot it down.

The politics of "Affirmative Action for Affordable Housing" sure cooked the books for Fannie and Freddie.

P D Q

"cm" wrote in message ...
No I think it started a little earlier than Carter and I would say the
republicans are just as much to blame. Assuming your talking about the
latest financial situation and not marital infidelity. Well I guess both
greed and extra marital affairs pre dated the Carter administration.



cm


"PDQ" wrote in message
...
Clintons sure had a hand in this problem.

Would you believe that it really started with Jimmy Carter??

P D Q