DebinPhoenix's Blog

As signed by President Clinton in 1998, QHWRA created the secondary financial mortgage markets...taxpayer backed and deregulated in one fell swoop.  The financial giants raped, pillaged and plundered every single person they could get their hands on.  Knowing full well, from the very beginning, these people would be thrown out into the streets.  This financial debacle was carefully created and executed.  Don't believe me?  Look it up!  There are thousands of articles about who created this mess but you want hear or read about it in mainstream media.       

PUBLIC HOUSING REFORM

Public housing reform is represented through the Quality Housing and Work Responsibility Act of 1998 (QHWRA). QHWRA was signed by President Clinton on October 21, 1998 and is found in Title V of HUD’s FY1999 appropriations act (P.L. 105-276).

 

QHWRA is landmark legislation which will make public housing reform a reality by:

 

• Reducing the concentration of poverty in public housing

   

• Protecting access to housing assistance for the poorest families

   

• Supporting families making the transition from welfare to work

   

• Raising performance standards for public housing agencies, and rewarding high performance

   

• Transforming the public housing stock through new policies and procedures for demolition and replacement and mixed-finance projects, and through authorizing the HOPE VI revitalization program

   

• Merging and reforming the Section 8 certificate and voucher programs, and allowing public housing agencies to implement a Section 8 homeownership program

   

• Supporting HUD management reform efficiencies through deregulation and streamlining and program consolidation

Keeping in mind, the above bullet points;  The superficial purpose of President Clinton's public housing reform was to assist the impoverished, unemployed and unfortunate to achieve the "American Dream" of home ownership.  But in actuality, these very people were used as nothing more than pawns to place hundreds of thousands of dollars into predestined powerful and influential pockets, i.e., Countrywide, Bear Stearns, AIG, Merrill Lynch, etc. 

 

Here again!  Proposing "different" criteria for low-income buyers.  Lending money to people who can't, and never will, be able to afford it.  I'm not a rocket scientist...however, I know that if I lend money to someone who cannot pay it back...then it was never intended to be a loan at all.   

Sen. Clinton, D-N.Y., Proposes Easing Mortgage Limits for Low-Income Buyers.

 

Publication: Knight Ridder/Tribune Business News
Date: Wednesday, December 10 2003

 

By Christian Murray, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News

 

Sen. Hillary Rodham Clinton has a plan that would help 900,000 households statewide qualify for federal loans to help them buy average-priced homes in the metropolitan area.

 

Clinton announced the proposed legislation yesterday at the New York Housing Conference in midtown Manhattan. Her proposal would relax the mortgage amount limits required for home buyers shopping for Federal Housing Authority (FHA) loans.

 

 

How We Ended Welfare, Together

By BILL CLINTON

 

Published: August 22, 2006

 

TEN years ago today I signed the Personal Responsibility and Work Opportunity Reconciliation Act. By then I had long been committed to welfare reform. As a governor, I oversaw a workfare experiment in Arkansas in 1980 and represented the National Governors Association in working with Congress and the Reagan administration to draft the welfare reform bill enacted in 1988.

 

Yet when I ran for president in 1992, our system still was not working for the taxpayers or for those it was intended to help. In my first State of the Union address, I promised to “end welfare as we know it,” to make welfare a second chance, not a way of life, exactly the change most welfare recipients wanted it to be.... On Aug. 22, 1996, after vetoing two earlier versions, I signed welfare reform into law.... The last 10 years have shown that we did in fact end welfare as we knew it, creating a new beginning for millions of Americans.

YES INDEED MR. AND MRS. PRESIDENT...

YOUR BACK-TO-BACK FAILED POLICIES OF WELFARE REFORM (1996) AND WALL STREET DEREGULATION (1998), HAVE MANAGED TO TAKE OUR MOST VULNERABLE CITIZENS, JERK THEM OUT OF THEIR HOMES AND THROW THEM RIGHT INTO THE STREET.