In a fascinating confluence of political threads, it looks like Supreme Court nominee Sonia Sotomayor once served on a government agency that pressed for more home loans for un-creditworthy borrowers.
Sonia Sotomayor, Barack Obama's nominee for a seat on the Supreme Court, served on the board of a New York State agency charged with providing discounted mortgages to middle and low income homebuyers from 1987 to 1992. During the time, she was a consistent advocate of pushing the agency to provide more mortgages to low-income home buyers. In short, she advocated the kind of aggressive lending practices that helped create the mortgage meltdown.
Of course 1992 was a long time ago, but what does this history say about the quality of her judgment?