Wasn't there some sort of federal legislation that addressed a perceived racial bias in mortgages that resulted in forcing lenders to lower the standards for securing a mortgage? I think it originated under Clinton and expanded under Dubyuh.

Greedy people will take advantage of loopholes.

The powerful people ( government) forced the greedy people to make loans to the people w/o either power or money, or the prospects to repay the loan. The powerful people guaranteed the loans with OUR money so they could look good and get re-elected, and think well of themselves for caring so much about others-(while spending none of their own money on charity).

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags