to now provide sub-prime mortgages to 15,000 of these unqualified borrowers. The commission later covered up the actions of new senator Obama, and Cuomo, Jr.; the Fathers of Subprime.
“The commission also covered up the fact that the heads of the Senate Housing and Banking Committees, Frank and Dodd, forced Fannie and Freddie to buy toxic, subprime mortgages that were due to go into default. This led directly to the failures of Fannie and Freddie, and their subsequent taxpayer bailout in the form of TARP. The cost of this bailout is a mind numbing $10 billion loss each and every quarter.”