Now, this is Liberalism is a mental disorder defined..
The Obama administration is readying a push to get banks to make more home loans available to individuals with weaker credit.
It’s a push that walks a tightrope, since it is expected to help boost the continuing economic recovery immediately but risks opening up the shaky lending that led to the housing crash. Obama’s plan would provide for more lending to individuals such as young people buying their first homes, as well as people whose credit has been damaged by the recession.
Rest of post here.
It’s too bad we don’t have any real life experience to determine how this may work out.
Wasn’t it Obama that said while campaigning in 2008 that; “because of President Bush’s irresponsible spending by using his unlimited credit card from China, our children and our children’s children will have to pay this debt for generations to come”? Hmmmm…..Well is Obama again going to blame former President Bush for his failed policies that caused the national debt to increase up to $16.7 TRILLION DOLLARS and now because of his 2nd failed mortgage crisis attempt, our debt will be compounded literally daily because of this. When will Obama learn his lesson?
The president is doing everything he can to precipitate a disaster. Printing $85 billion per month and using the new money to bolster the stock market, so when it crashes it will be the greater disaster as many billions of hot air money is suddenly dumped into the economy.
Forcing banks to loan to unqualified buyers is just one element of the overall plan..
Yes, I look forward to the day coming soon when I and my family will be cooking rats over a flame on an open garbage can….