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Cuomo...when secretary of HUD made decisions that create credit crisis..??..      4-Nov-09 10:15 pm    
You see Mr Cuomo...we can google also....LOL

Nobody is perfect....!!!

Controversies
In the August 5, 2008 issue of The Village Voice, Wayne Barrett argued that Andrew Cuomo made a series of decisions as Secretary of HUD between 1997 and 2001 that helped give birth to the country's current credit crisis:

"He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why."[20]

On November 7, 2007, as part of his probe into the mortgage industry as New York Attorney General Cuomo announced subpoenas for Freddie Mac (FRE) and Fannie Mae (FNM) requesting the companies retain an independent examiner to review mortgages and appraisals.[citation needed] Cuomo sued First American Corporation (FAF) and its eAppraiseIT unit for allegedly colluding with Washington Mutual to use a list of select appraisers to inflate mortgage appraisals.[citation needed] Washington Mutual stock responded with a sharp decline.[citation needed] CNBC's Jim Cramer labeled Cuomo a “communist” who "wants to shut down the mortgage market."[21]


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bofa_ml


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Cuomo...when secretary of HUD made decisions that creat...
bofa_ml (1 Rating) 4-Nov-09 10:15 pm  
 
He must be jailed
mariachi74 Rate it 5-Nov-09 12:39 am  
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