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Loan Modification

: Mortgage Lender Implode-o-Meter

Blame it on Reagan

By Implode-Explode Heavy Industries

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" Krugman points to the 1982 signing of the Garn-St. Germain Depository Institutions Act that deregulated mortgage financing, encouraged absurd levels of personal debt and ushered in a period of government deficit spending that while curtailed by Clinton was exacerbated by Bush to a point where we were caught with our pants down for the payoff of 25 years of deregulation and debt-binging."

Full post as published by Mortgage Lender Implode-o-Meter on June 01, 2009 (boomark / email).

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