aka President Clinton plan of slamming the banks with 10 different federal agencies that were operating under his direction and were that then told to begin the massive efforts making loans to lower income and less qualified lenders or else that they would be targeted with investigations for lending discrimination with assured very negative publicity.
Banks that refused to put lending to credit-poor and previously unqualified minorities were hit with denied approval for any plans for expansion, were denied access to Fannie and Freddie, were sued by the Justice Department, and were vilified in the press as racist.
This policy was signed by HUD Secretary Henry Cisneros, Attorney General Janet Reno, Comptroller of the Currency Eugene Ludwig, Federal Reserve Chairman Alan Greenspan, and the heads of six regulatory agencies.
Totally missed by the Financial Crisis Inquiry Commission (who were “oh, so seriously” investigating as to why there was a housing bubble and crash)
Totally missed by the mainstream media.
Totally missed by the OWS crowd.
It’s like this huge pretend selective memory.