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October 20, 2008

Henry Cisneros, Housing Expert

Michael Blowhard writes:

Dear Blowhards --

Steve Sailer turns up a fun NYTimes visit with Clinton-administration housing honcho Henry Cisneros. A dryly amusing passage:

As the Clinton administration’s top housing official in the mid-1990s, Mr. Cisneros loosened mortgage restrictions so first-time buyers could qualify for loans they could never get before.

Then, capitalizing on a housing expansion he helped unleash, he joined the boards of a major builder, KB Home, and the largest mortgage lender in the nation, Countrywide Financial — two companies that rode the housing boom, drawing criticism along the way for abusive business practices.

And ain't that the way the game is too often played?



posted by Michael at October 20, 2008


I think this whole ...thang...can be attributed to bob rubin and alan greenspan. But then we took the good times, as billy joel would say...

Posted by: Ramesh on October 20, 2008 11:12 AM

I'm glad we've got someone to blame it on. I'd be completely lost otherwise.

Posted by: Michael Blowhard on October 20, 2008 2:23 PM

Hey, Dont look at me! I was in Canada then!

Posted by: Ramesh on October 20, 2008 2:45 PM

There's big money in the compassion racket, eh Henry?

Posted by: ricpic on October 20, 2008 9:58 PM

"Doing well by doing good" -- isn't that the dream?

Posted by: Michael Blowhard on October 20, 2008 10:47 PM

Doesn't that go "doing well by doing ..wel,...everyone"?

Posted by: Ramesh on October 21, 2008 12:19 AM

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