Playing Devils Advocate with Democrats
(predicting the credit crisis in 1999)

Author → Asif

On September 30, 1999, Stephen A. Holmes of the NY Times published an article about how Fannie Mae, then the nation's biggest underwriter of home mortgages, was under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

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