Where it all Started…..

The downturn in markets that we have been experiencing has been difficult and many questions are being asked about how Wall Street and banks around the world leveraged their portfolios and how the US government allowed sub-prime borrowers to buy a home with 100% or more of it being financed.

 

I was emailed an article that was re-printed from the New York Times. The original article was dated 1999 and discussed a new initiative that the Clinton administration wanted to be put in place in order to allow every American to live the dream of owning their own home.

To see the article, click here as it is very interesting.

If we only knew then what we know now. Your comments are greatly appreciated.

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