You and Oblamer own it:<quoted text>
I don't know. With some help from the R's, maybe the recession could gather more steam.
But wouldn't any intelligent, informed, educated person expect the worst recession since WWII to have the worst recovery since WWII. Ad before you run screaming through the streets having your typical " OMG OMG OMG" fit, I am saying that recovery time usually matches the severity of the recession.
The worst recession should have the most difficult recovery.
At President Clinton’s direction, no fewer than 10 federal agencies issued a chilling ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties.
The threat was codified in a 20-page “Policy Statement on Discrimination in Lending” and entered into the Federal Register on April 15, 1994, by the Interagency Task Force on Fair Lending. Clinton set up the little-known body to coordinate an unprecedented crackdown on alleged bank redlining.
The edict — completely overlooked by the Financial Crisis Inquiry Commission and the mainstream media — was signed by then-HUD Secretary Henry Cisneros, Attorney General Janet Reno, Comptroller of the Currency Eugene Ludwig and Federal Reserve Chairman Alan Greenspan, along with the heads of six other financial regulatory agencies.