[arderkrag]

The Fed, in a paper sent to lawmakers on Wednesday, outlined an array of steps that could be taken to help the housing sector, including allowing Fannie and Freddie to provide cheaper mortgages to a broader pool of homeowners.

Oh yeh, getting the poor to take out loans they can't afford worked out SO WELL the first time...

[silverleaf]

and ironically given the timing of this “paper”, the Fed is where obama has set up his new Consumer Finance Protection agency with his unconstitutionally appointed director Cordray with the mission to track down and squeeze “predatory” mortgage lenders .... so the peeps can line up and demand show me the money!

[sodpoodle]

The Government will confiscate all those ‘foreclosed’ homes as they fail to attract qualified buyers and will then categorize them as HUD rentals.

This will expand the Government reach into suburbia and rural areas rather than the high-rise slums of inner cities. Much more attractive to low income renters.