Obama administration pushes banks to make home loans to people with weaker credit
the banks went from if your breathing you can get a loan (NINJA) to nobody can get a loan..both were way too exteme and a happy medium exist in between..good job mr presindent
OPP Newsletter wrote:
http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html
This is
exactly what triggered our current crisis in the first place--not that we were not doomed to have one anyway, but this brought forward a few years and forced us into the situation we are still in. Now, President Obama wants to burn us again with the same old nonsensical policies we had before the crisis erupted. Why am I
not surprised? It really does take a great deal of effort to teach an old dog new tricks, especially when the old dog in question treats with numbers as though they are mere abstractions that can be twisted to suit his ends.
Dave
Loc: Upstate New York
tombrady wrote:
the banks went from if your breathing you can get a loan (NINJA) to nobody can get a loan..both were way too exteme and a happy medium exist in between..good job mr presindent
Tom - are you at all aware of the history of the housing and mortgage bubble and bust? I'm hoping, for your sake, that you aren't a knee jerk Bush did it fool on this subject.
No Dave are you a knee jerk its all dems fault . Why do you try to keep baiting me. I never assume what you think. It reflexes poorly on you when you assume you know what an individual thinks. As you put everyone who doesn't agree with you as inferior. Are you an elitist .
oldroy
Loc: Western Kansas (No longer in hiding)
tombrady wrote:
the banks went from if your breathing you can get a loan (NINJA) to nobody can get a loan..both were way too exteme and a happy medium exist in between..good job mr presindent
Wasn't that the Dodd - Frank bill that turned Fannie Mae loose to pressure banks into extending all those loans? I guess I must have been misled about that law and Fannie Mae.
Dave
Loc: Upstate New York
tombrady wrote:
No Dave are you a knee jerk its all dems fault . Why do you try to keep baiting me. I never assume what you think. It reflexes poorly on you when you assume you know what an individual thinks. As you put everyone who doesn't agree with you as inferior. Are you an elitist .
While accusing me of assuming I know what you think, you assume you know what I think. I never said, nor maintained, that the housing bubble was all the Dem's fault - nor did anything I say suggest you did. I simply asked you if you looked into the cause of the bubble.
The cause of the bubble was too loose on loans. The cause of that was federal government over involvement in the market. That is what I was referring to, and why you may think this President has an answer that allows the federal government to again get involved without causing unintended consequences, I know better.
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