By Kevin “Coach” Collins
The news that Andrew Cuomo is enjoying a 70% approval rating in his first weeks as New York’s Governor is a clear example of how uninformed the manipulative media keeps us.
If New York’s Republicans had fielded a genuine candidate in last November’s Gubernatorial Election we would have learned more about the gross culpability of now Governor Andrew Cuomo in the Fannie/Freddie mortgage collapses.
Make no mistake the numbers are clear and they point directly to Cuomo and former Attorney General Janet Reno.
While Cuomo was the totally unqualified HUD Secretary during the period 1997 to 2001, he threatened the managers of Fannie and Freddie with lawsuits to be brought by the equally unqualified Janet Reno. Cuomo’s aim was to push to a toxic 50% the amount of bad never-should-have-happened mortgages these programs had to buy from private lenders.
As a truly delusional liberal, Cuomo decided he would right the wrongs of past discrimination against America’s minorities. He would provide minorities with “affordable housing.”
That the blatant in-your-face-because-you-are-a-minority type of discrimination was a thing of the past made no difference. This liberal Don Quixote soldiered on. There were votes to be purchased and federal money to buy them with so reality would not dissuade him from his self appointed mission.
Cuomo pushed his destructive plan so far and so hard that he stuck America’s taxpayers with $1 trillion in doomed to fail loans by 1999.
Bush tried, Democrats lied
On September 11, 2003 the New York Times reported it was George Bush that recommended what it called “significant changes” in how the financial industry [read Fannie and Freddie] should be regulated. Although they were in the minority, the Democrats were dealing with spineless Republicans not conservatives then so they killed Bush’s reforms.
The damage the Cuomo/Reno vote buying scheme did was immediate and substantial.
Because of their strong arm tactics the percentage of less-than-five-percent-down loans Fannie and Freddie were forced to purchase zoomed up from 4% in 1998 to 22% in 2007 which is suspiciously the latest year for which data is available.
This “affordable housing” scheme was and always will be a liberal fraud. They talk about “affordable” mortgages but what they really want is minorities not able to “afford” a home to have one paid for by us, so they will gratefully vote Democrat forever.
It’s too late to hang this on Cuomo and Reno is safely out of office, but we have to press our new conservative Congress to expose this Democrat vote buying scheme out as soon as possible.
Use this link to contact your Congressional Representative:
To gather more information about this scheme use these links:
This day in history January 19
2001: Democrat Bill Clinton admitted he lied under oath about his having taken advantage of intern Monica Lewinsky.
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