BDBoop
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Countrywides lending volume also boomed. In 2004, 14 percent of the companys loans in the state were given to high-risk borrowers, but the following year when Countrywide received its first $10 million disbursement from the fund the rate of risky loans jumped to nearly one in three, the APs analysis found. Texas ranked No. 3 for the number of risky mortgages underwritten by Countrywide, behind only Florida and California.
In October 2007, as credit-rating agencies continued downgrading hundreds of billions in mortgage-backed assets on Wall Street, Perrys spokeswoman described Texas as one of the hottest housing markets in the nation and dismissed concerns about the looming economic implosion as slightly alarmist.
The enterprise fund is known in Texas as a signature issue for Perry, and one that has drawn critical scrutiny by the watchdog group Texans for Public Justice in light of subprime mortgage lending in the mid-2000s. The APs review uncovered new details of his economic deals as he seeks the GOP presidential nomination, particularly in how the two lenders engaged in subprime lending in Texas.
Perry gave millions in tax dollars to banks as their subprime lending boomed - The Washington Post
Things are really getting messy in R land! Even Christie. Looks like it's coming back down to Romney again (and Johnson, my pick).