Smoking-Gun Document Ties Policy to Housing Crisis

At President Clinton’s direction, no fewer than 10 federal agencies issued a chilling ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties. http://www.amren.com/mtnews/archives/2011/11/smoking-gun_doc.php