Evaluating Andrew Cuomo’s tenure at HUD

TRD New York /
Aug.August 24, 2010 11:00 AM

Andrew Cuomo

Attorney General Andrew Cuomo is highlighting his time as head of the
Department of Housing and Urban Development during the Clinton
administration as proof of his fiscal and political abilities in his bid
for governor. But upon closer analysis, Cuomo seems to have garnered mixed reviews during his time at HUD, the New York Times reported. It was during Cuomo’s tenure that the banking industry began to embrace predatory loans, which led to a housing bubble that badly damaged America’s banks and nearly toppled its financial system.

In an effort to reverse decades of discrimination against blacks and Latinos, Cuomo pushed Fannie Mae and Freddie Mac to buy more home loans taken out by poor and working-class borrowers. But when presented with chances to guard against predatory lending and reel in mortgage brokers and lenders, Cuomo faltered and backed down, interviews and records show. He declined to comment on his role. [NYT]

 

Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Owners of some residential properties can’t hide behind
LLCs anymore
Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Landlords take another hit: Cuomo signs expanded Loft Law
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

Cuomo wants to exempt NYC from prevailing wage bill
Gov. Andrew Cuomo (Getty, iStock)

New York’s residential eviction protections extended through December

New York’s residential eviction protections extended through December
Housing and Urban Development secretary Ben Carson (Getty; iStock)

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit
(iStock)

Laughing matters: Comedy club owners call for reopening

Laughing matters: Comedy club owners call for reopening
New York Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins (Getty)

New York lawmakers push for new millionaires’ tax

New York lawmakers push for new millionaires’ tax
New York City Mayor Bill de Blasio, President Donald Trump, and New York Governor Andrew Cuomo (Credit: Yana Paskova/Getty Images, Chip Somodevilla/Getty Images, and Drew Angerer/Getty Images)

Trump threatens to yank $7B from “anarchist” NYC

Trump threatens to yank $7B from “anarchist” NYC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...