These people have no conscience. They cannot destroy our economy fast enough to satisfy Obama. This is exactly what caused the recession in 2008.
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Quote:Obama administration pushes banks to make home loans to people with weaker credit
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
President Obamaâs economic advisers and outside experts say the nationâs much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
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 â including those offered by the Federal Housing Administration â that insure home loans against default.
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I guess Barney Frank isn't in the taxpayer's rear view mirror after all. How any rational person could defend this stupidity is beyond belief. One housing bubble wasn't enough, we are now trying to go 2 for 2. Not that one would expect these bozos to change any, given the fact that democrats have yet to admit the first housing bubble was their fault. Barney Frank and other prominent dems pressured Fanny and Freddie to make loans to folks, who didn't qualify for the loans and the rest is history. Now Obama himself is doing the same thing.
TheRealVille Wrote:Kind of like voting for Bush twice?
Bush was last elected 9 year ago, yet instead of addressing issues with thought and reason, this is all they have to offer.
At this point, I truly believe liberals want our country to fail. I can think of no other reason why they would support some of the policies being brought to the table by Democrats.
They choose to focus on abortion and gay rights, instead of focusing on problems that are crippling our nation, and if not corrected in a timely manner will bring about the end of the United States of America as we know it today.
Hell... now you can fill your car up with your EBT card... it is getting ridiculous.
TheRealThing Wrote:I guess Barney Frank isn't in the taxpayer's rear view mirror after all. How any rational person could defend this stupidity is beyond belief. One housing bubble wasn't enough, we are now trying to go 2 for 2. Not that one would expect these bozos to change any, given the fact that democrats have yet to admit the first housing bubble was their fault. Barney Frank and other prominent dems pressured Fanny and Freddie to make loans to folks, who didn't qualify for the loans and the rest is history. Now Obama himself is doing the same thing.
Obama himself was pushing banks to make bad loans to people whom did not deserve them all the way back to his community organizing days. Barney Frank, Chris Dodd, the Congressional Black Caucus, and other liberals deserve their share of blame, but Obama has always been committed to raiding banks to fuel his political career.
TheRealVille Wrote:Kind of like voting for Bush twice?
Al Gore in 2000, or John Kerry in 2004? Having "Bush" as President for two terms might not have been the best case scenario, but it probably was better than the alternatives. That compares to the GOP serving up McCain in 2008.
McCain - Obama in 2008...I give the edge to the pigment of Barry's skin and the media circus. Obama winning a second term over Romney in 2012, now that is insanity.
SKINNYPIG Wrote:Al Gore in 2000, or John Kerry in 2004? Having "Bush" as President for two terms might not have been the best case scenario, but it probably was better than the alternatives. That compares to the GOP serving up McCain in 2008.
McCain - Obama in 2008...I give the edge to the pigment of Barry's skin and the media circus. Obama winning a second term over Romney in 2012, now that is insanity.
SKINNYPIG tells the truth without fear of the politically correct thought police. I salute him. If he is punished for his honesty, I would hope the punishment consists of being hit by baseballs thrown by Barry. If so, SKINNYPIG is safe since the boy is not capable of coming within twenty feet of him. Barry is clearly no athlete. Socialists aren't normally good athletes.
FTR, I don't agree with giving housing loans to people with bad credit. I don't know what the line is with "weaker credit" though. If you can't afford a house, don't buy it. All it does in the end is destroy the worth of my house if people default, and lose their house.
I did see in the link about letting people that are upside down on their mortgage, refinance to a lower interest rate. That might help the people with the house, and also help the lender. It would help the people be more able to pay their mortgage, therefore giving the lender more of a chance to get their money owed to them.