The tangled web of the housing market and politics is getting deeper. Hillary Clinton is proposing a 30 billion dollar bailout of the housing market. This obviously is a move to gain a populist edge in the coming election. Typical politics, nothing to see here, right?

Well not so fast. Her campaign manager and chief adviser, Maggie Williams, was a director of one of the largest subprime lenders in the country. Delta Financial was the 8^th largest subprime lender and had a track record of lending in urban areas that were hit hard with foreclosures.

So as the politicians fight over who has the high ground in the housing debate, be very cautious. But when Hillary Clinton will there was a lot of fraud in the housing market take her word for it.

Her chief adviser was in the middle of committing some of the worst of it.

Hillary Clinton spends considerable time on the campaign trail bemoaning unscrupulous lenders who have left millions of Americans scrambling to keep their homes but all the while her campaign manager, Margaret “Maggie” Williams, has sat on the board of one of the nation’s once-largest and now-bankrupt sub-prime mortgage lenders.

Clinton Communications Director Howard Wolfson told FOXNews.com late Sunday that Williams, a longtime Clinton ally, didn’t join Clinton’s Democratic presidential campaign as a volunteer until after Delta Financial Corporation — for which Williams is a director — went bankrupt in December 2007.

…
But as it turns out, Clinton’s top aide is on the board of what had been — until its bankruptcy — the ninth-leading sub-prime lender in the nation, handling almost $800 million worth of sub-prime lending in the third quarter of 2007 alone, according to National Mortgage News. via Americas Election HQ.

Related posts:

1. Countrywide’s Mozilo Charged With Securities Fraud and Insider Trading by S.E.C.
2. 7% of Homeowners and 40% of Subprime Homeowners 30 Days Behind on Mortgage
3. Columbus Housing Fraud Case Involving Builders Getting Convictions