Political Quotes

Barack Obama: “It is a huge disaster. We've got 7,000 foreclosures a day. If we had implemented some simple reforms around Fannie Mae…”

On the recordJuly 14, 2008
It is a huge disaster. We've got 7,000 foreclosures a day. If we had implemented some simple reforms around Fannie Mae and Freddie Mac, if we had had some serious efforts to curb predatory lending, a lot of these problems that we've seen could have been prevented.
Said by
Barack Obama
Democratic · Illinois

Editor's note · Context

Obama addresses the mortgage crisis and suggests reforms that could have mitigated its impact.

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