Obama administration pushes banks to make home loans to people with weaker credit
His banker friends must be demanding another $1 trillion gift.
Disrupting the Borg is expensive and time consuming!
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It does leave you shaking your head. The guy has learnt zero from the housing bubble and the crisis that unfolded, and wants to re inflate the bubble because he thinks this will help the economy along and provide social justice…
Hell Will, the man participates as an attorney in some of the red lining law suits to help propogate the bad loans.
Should probably be an impeachable offense.
Dumb-o-crats never learn from their mistakes.
They respond to failure by:
1) Calling for more of the same that just failed
2) Lionizing the stupid Dumb-o-crat that promoted the failed policy in the first place
3) Demonizing anyone who points out the obvious failure as: stupid – on the payroll of corporate interests – anti-whatever victim class is currently popular – Knuckle-dragging-Neanderthal-reactionary-hard-right Conservative-judgemental-uncaring-hate-speaking troglodytes – Limbaugh ditto-heads.Getting
4.) Getting Hollywood dipshi#s to repeat any/all of the above.
4) Getting idiot Hollywood dipshi#s to repeat all of the above
But it is truly mind boggling that someone can have gone through the greatest financial crisis since the great depression and have learnt absolutely zilch. Evidenced by the fact that he is promoting the very same ideas that caused the original mess. You have a president who presents well, but who is actually a fiscal moron.
I think that’s the idea, to make things worse, crash everything and start from scratch to mold it in the image they see fit.
I doubt it. Not smart enough. If there is a bond or currency crisis in the US, which is a worst case scenario, although certainly plausible, I suspect Obama will be completely shocked when it happens.
The military does that exact thing, break you down till they can mold you into what they want.
http://libertycrier.com/u-s-constitution/imf-proposes-1-40-a-gallon-gas-tax-on-us-drivers/
Just read this. Obama is gunna hit you guys where the sun don’t shine! Your wallets.
This is just the softening up process.
How about a $1.40 a gallon tax to pay off their debt? The US has no money. If it’s going to fund social programs and environmental projects around the globe, it has to do so by borrowing money from other countries that it has no capacity to pay back. Exactly how is this considered “funding” of such programs?
Damm, I read the article. Instead of a post tax payer bail out, the are now pre promising a future bail out. Beyond parody…
“Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.”
How about sound financial standards instead of government standards?
Is this the way to get the people into ghettos?
Sell them properties they can afford, when they go bankrupt, house them in government approved projects. That makes it all so much easier for the final clean-up solution.
Leftists write our history books now, and have no need to worry about repeating their fictions. They have sold the narrative that they were not to blame for the first collapse.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
Ummm – wasn’t that Fanny Mae and Freddie Mac ?