« on: April 09, 2010, 05:30:13 PM »
Republican candidate for New York governor Carl Paladino on Tuesday blamed Democrat Andrew Cuomo and his policies as President Clinton's housing secretary for the sub-prime mortgage crisis that helped trigger the recession.
The millionaire Buffalo developer said Cuomo initiated policies that helped poor people qualify for adjustable rate mortgages they didn't understand and couldn't afford once rates rose.
Paladino said the defaulted mortgages cost poor families their homes, while other taxpayers lost retirement funds in the ensuing Wall Street meltdown.
Paladino said that as secretary for Housing and Urban Development, Cuomo "couldn't wait to get in front of the cameras at press conferences" to say how he was encouraging the federally chartered mortgage giants Fannie Mae and Freddie Mac "to lower their standards so every American can enjoy having a house."
http://www.businessweek.com/ap/financialnews/D9ETQ5000.htmHeh. Go git 'em.
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