Wall Street protests are off the mark

The Wall Street protesters are really after the wrong target. It is either from memory lapse or false information by the protest organizers.

Let’s go back to the Clinton Administration when the Democratic Congress at the leading of the proposed idea that even poorer citizens should be able to own homes. Banks and other lending agencies were required to make loans with little or no down payment, required to build branch offices in low income areas and begin adjustable rate mortgages. To refresh your memory, Atty. Gen. Janet Reno in the Clinton Administration issued an order that all banks were to make these loans or suffer fines that would have caused the belly-ups that came later in time for the Stimulus era.

To avoid the fines, the banks did what was required, but then sold the mortgage papers to Freddie Mac and Fannie Mae, which were underwritten by the government and controlled by the Democrats now in the cabinet of the current administration or are still in the Senate.

The many protesters should be protesting in front of the Congress and the White House. The banks only did what they were required to do.

Myron Dudek

Bensenville