Btw he is personally responsible for some of the most crucially bad policies that caused the previous recession and housing bubble.
He was the secretary of HUD during the Clinton administration. It brings a smile to my face realizing I don't have to specify which Clinton.
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Then why is Clinton culpable? Because his secretary of housing and urban development, Andrew Cuomo, current governor of New York and a likely 2016 presidential aspirant, accelerated easy-housing policies and inflated the housing bubble, setting the stage for its collapse.
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Clinton's contribution to the crisis lay in his appointment of Cuomo to HUD. Cuomo became HUD secretary in 1997 after becoming assistant secretary in 1993. In a heavily researched 2008 article in the Village Voice, Wayne Barrett writes,
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Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded 'kickbacks' to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.
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Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
https://reason.com/2012/10/14/clintons-legacy-the-financial-and-housin/