Wednesday, October 01, 2008 11:28 AM
Sam Chapman
Today's Government Bail-out Plan Predicted in 1999
I read a story in the New York Times today that basically republished a story from September 30, 1999 titled "Fannie Mae Eases Credit To Aid Mortgage Lending." The story referenced how Fannie was being pressured by the Clinton administration go get more low and moderate income buyers into homes. It goes on to talk about the substantial risk Fannie would be taking on and basically predicted the rescue plan bail-out that is currently being discussed in Washington. Click the article title to read the story.
Thanks to my Austin mortgage lender, Steven Bray, for the link to the story.