After GWB denounced traditional downpayment and documentation credit standards at his 10/15/02 White House Conference on Increasing Minority Homeownership, Mozilo of Countrywide pledged $600 bn in 2003 in "multicultural" lending if regulators cut him slack on his dubious loans.
GWB was boss of regulators whose job it is to keep lenders from running amok and needing bailouts by giving out too many stupid mortgages to deadbeats. GWB told his bureaucrats in 2002 that old-fashioned down payment and documentation credit standards caused racial inequality.
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Your implication is now that regulators under Republicans avoided bailouts before 2008, which is absolutely hilarious, unless you have amnesia and forgot about 1989. I’m sure you have some convoluted reason why blacks and Hispanics are responsible for that one also though.
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