US Action News

Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.

“If you look at the problem with the economic meltdown, you can trace it right back to the federal government,” she said. “It was the federal government that pushed the subprime loans. It was the federal government that pushed the Community Reinvestment Act.”

The interaction of six government policies explains the timing, severity, and global impact of the financial crisis.

FNC legal analyst Bob Massi discusses why millions of Americans can’t afford their homes.

New Sean Bielat ad highlights Barney’s flip flopping and dodging of his culpability in the housing crash and the Fannie Mae and Freddie Mac debacle.

Understanding that failed government policies, not market failure, caused our economic challenges is critical to defining the appropriate cures. Since government created the problem, i.e. caused the disaster, it is irrational to believe that more government is the cure.

Sean Bielat came out swinging in a pair of debates this week, blasting the 30-year congressman as “one of the leaders of the economic disaster” and pointing out that as a veteran of the House banking panel, Frank pushed Fannie Mae and Freddie Mac to load up on risky mortgages while fighting proposals to reform them.

President Obama and Democrats in Congress haven’t moved to stop subprime lending — they’ve just taken it over.