Big Changes Coming for Mortgage Market

CNBC ^ | February 07, 2011 | Diana Olick

[LomanBill]

>>And why do you think that happened?

Because the systemically corrupt institutions that perpetrated the deed had no connection to the communities they were defrauding.

What made George Bailey different from Henry Potter?

[investigateworld]

So it had nothing to do with a certain politician who had never run a company?

[Earthdweller]

Why has Fannie and Freddie not been investigated for their role in destroying the US economy and why has no one gone to jail yet?

[lodi90]

What is so outrageous is that even after the crash the gubmint has continued using FHA/Fannie as a affirmative action giveaway and to prop up the housing market. They are still pushing 3% down loans after the mess they made! No way the community organizer gives up control of this. Too many blacks benefit.

[LomanBill]

 >>a certain politician who had never run a company?

The Merchant uses dishonest scales; he loves to defraud
--Hosea 12:7

When politicians are manufactured by systemically corrupt institutions operating with no moral compass, the general result is leadership that does not operate in accord with the specified purpose of American governance:

"TO SECURE THESE RIGHTS, governments are instituted among men..."

To secure them from who/what?  To secure them from the flaw of human nature that creates merchants who think using dishonest scales is "just bidness" as usual -- in that state of mercantile affairs where...

COMMERCE BETWEEN MASTER AND SLAVE IS DESPOTISM
--Thomas Jefferson

[investigateworld]

All good points.

[Pining_4_TX]

Sorry, that dog won’t hunt. There is nothing noble about using one person’s money to benefit another. Anyone with a brain knows that it is the qualities and hard work needed to become a home owner that matter, not the ownership itself. You don’t turn someone into a responsible person by giving them stuff they haven’t earned.

I’ve always said the Bush family are Democrat moles sent to destroy the Republican Party from within. They almost succeeded.

[CutePuppy]

What is so outrageous is that even after the crash the gubmint has continued using FHA/Fannie as a affirmative action giveaway and to prop up the housing market.

Not only have they continued, but put them in overdrive, guaranteeing either new loans or re-refis.

[gusopol3]

I bow to your superior intelligence and judgment.

[LomanBill]

The idea of the “[American] ownership society” is preferable to the alternative of an alienated population which is then susceptible to being recruited into revolutionary communist factions South of the border.

>>There is nothing noble about using one person’s money to benefit another

Conservative banking institutions do it all the time -- With the expectation of a quid-pro-quo through equitable commerce rendered in the process of community development.

The notion of doing so is consistent with these American words, written in stone upon the walls of the Jefferson memorial (regardless of whether or not Thomas Jefferson is recognized by the Texass school curriculum):

 

It would be interesting to see a distribution of foreclosure rates among various ethnic groups. 

Especially between:

A: Recent immigrants for whom English is a second language to Spanish,

and  

B: White trash who bought their McMansions and toys with a Liar loan because they were expecting to be raptured before the ARM exploded.

 

[Pining_4_TX]

I should have made it clearer what I meant by using someone else’s money. I meant the government taking it by force. Politicians have all sorts of “noble” ideas, but they are fund them with someone else’s money.

“These men, in point of fact, are seldom if ever moved by anything rationally describable as public spirit; there is actually no more public spirit among them than among so many burglars or street-walkers.” H.L. Mencken

[LomanBill]

>>I meant the government taking it by force

So how did the government take your money by force and give it to white trash liars and others who bought McMansions and toys?

[LomanBill]

You got a home-schooled quote for how to avoid this...

"We have Nicaragua, soon we will have El Salvador, Guatemala, Honduras, Costa Rica, and Mexico. One day, tomorrow or five years or fifteen years from now, we're going to take 5 to 10 million Mexicans and they are going into Dallas, into El Paso, into Houston, into New Mexico, into San Diego, and each one will have embedded in his mind the idea of killing ten Americans."

 ---(Thomas Borge, Nicaragua Interior Minister as quoted in the Washington Times, March 27, 1985)

...then, super genius? What's YOUR solution? {crickets crickets crickets}

Personally, I'd rather see those "5 to 10 million Mexicans" making payments on a house they're proud to call their own - instead of killing them. 

Evidently W thought much the same.