Today, President Bush announced a new goal to help increase the number of minority homeowners by at least 5.5 million before the end of the decade. The President's aggressive housing agenda will help dismantle the barriers to homeownership by providing down payment assistance, increasing the supply of affordable homes, increasing support for self-help homeownership programs, and simplifying the home buying process & increasing education. The President also issued "America's Homeownership Challenge" to the real estate and mortgage finance industries to join in his effort to increase the number of minority homeowners by taking concrete steps to tear down the barriers to homeownership that face minority families.<quoted text>
So you are saying that the recession started while the Democrats had control of both the House and the Senate. Wouldn't that make it a Pelosi/Reid recession?
One of the prime causes of the housing crash was the abuse of the Community Reinvestment Act first signed into law by President Jimmy Carter. In 1991, ACORN took over the House Banking Committee room for two days to protest efforts to scale back the CRA. In 1994 Barack Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank suit against redlining. Obama represented 186 black clients in his landmark mortgage discrimination lawsuit against Citibank. As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor blacks.
Obama is part of the problem, not part of the solution.