cause God forbid that people who prolly shouldn't get a loan in the first place, have a little skin in the game...
Posted on 05/16/2010 7:47:43 PM PDT by John Semmens
In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, “passage of such a requirement would restrict home ownership to only those who can afford it.”
(Excerpt) Read more at azconserv1.wordpress.com ...
cause God forbid that people who prolly shouldn't get a loan in the first place, have a little skin in the game...
Problem with these “satire” posts is they’re far too believable. If a balanced budget amendment went down because it wasn’t “fair”, it would seem totally reasonable to me. So would being expected to have some skin in three hundred thousand dollar home loan.
Good one John. ROFLMAO.
I find myself getting snookered by EVERY satire post now. Things have gotten so bad I can believe anything is possible with these dems
Rats think that by putting people in houses they cannot afford and debt that they cannot pay and in the process driving their credit down even further, they are doing them a favor.
LOL, brilliant!
For a second there I thought it said they voted down the “five-second rule.” My kids would have been heartbroken, “Sorry, that cookie has to go into the trash.”
“passage of such a requirement would restrict home ownership to only those who can afford it.”
This goes down in history with the likes of Yogi Berra, “It ain’t over ‘til it’s over”.
Dodd you moron, that is the whole idea of home ownership,
i.e., being able to afford it!!
Memo to Dodd: Ownership requires more than just having a name on a deed. It requires O&M (that means munny to those who don't know...)
Picking my jaw up off the floor here. Can our "government" get any more ridiculous?
Don't answer that. I don't want to know...
Urrrrrr..... ya got me. LOL
With these people in charge we are doomed, they are doing everything these can to keep the market from correcting.
WHAAAAAAT DID HE SAY, “... would restrict home ownership to only those who can afford it.”
Good grief! This is how we got in trouble before. Are these people so ignorant or just plain evil that they would continue to propose this sort of garbage ..??
Yeah, it got me too. Much too realistic!
Got sucked in again...
Adrenaline calming down, breath...
Om mani padme hum
All better now
lol
The Dems did vote down the 5% rule.
I just explained their reasoning.
Sadly, that is all too true.
"...as Senator Chris Dodd (D-Conn) explained, “passage of such a requirement would restrict home ownership to only those who can afford it.”
An absurdity like that from Dodd is what I expect.
Only a moron would say such a stupid thing and not realize what he was saying... If you can't afford it, don't do it....I learned the hard way....you can too....
Dodd is a poster boy for TERM LIMITS!
OOOHH! Got me too!
Yes, but, like many provisions in bills and amendments, a nay vote can be directed at some other aspect of the legislation which is the real cause of voting against a bill or amendment.
Ironically, your satire may well be working against the political persuasion which you support — so many conservative sites have published your comments as if they were facts that it makes them look a bit silly. This faux-story has gone viral and is revealing an unfortunate lack of sanity and fact checking on the part of those who are only too eager to believe it — regardless of how much reason Dems have given those who would so believe to do so.
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