Obama to loosen lending standards to boost home ownership. What could go wrong?

aei-ideas ^

[chessplayer]

After a near-depression and worst-ever financial crisis that cost the US economy as much as $14 trillion, one might think Washington would be careful to avoid repeating the same policy mistakes. One might think, for instance, Washington would think twice and then thrice before loosening mortgage lending standards to boost home ownership, particularly among low-income borrowers. Because, you know, loosened mortgage standards seem to have played some role in helping set the stage for the catastrophic mortgage meltdown.

[chessplayer]

Doubling down on stupid.

[Cowboy Bob]

The current administration is smarter than all previous administrations. Plus, they care more about people. That’s why it will work this time. /sarc

[goldstategop]

Mortgage loans? Might as well give every low income person in the country a free home.

[Smokin' Joe]

Ruh Roh. More CRAp.

[Ray76]

Didn’t “Obama” advocate that before and it helped lead to the real estate bubble?

All right enough pussy footing around, I’m sick of this ahole. Who is this guy? Who posts a picture on internet yet refuses to produce the document? Who relies on attorneys in robes - yes you Florida Judge Kevin Carroll - to cite “Miracle on 34th Street”? What a disgrace to your profession and infamous traitor to your Oath. Shame on you. Shame. Shame.

Who is this person who every politician bows down to when he declares the law is in his mouth? No one knows who he is.

Every American who supports these parties is a traitor. That’s right. You. Who is Obama? Do you know? No body knows - but we’re to keep quiet and take it. You’re idiots. You’re all idiots.

Who is this destroyer? Who is Obama?

[Therapsid]

Maybe they cut the dollar in half....your debt will remain the same.....except of course,,,for the special gov..loans which will be excused...simple redistribution is SO 90s.
oh well

[Hillarys Gate Cult]

To pay for it they’ll just recommend that people get a couple of more part time jobs.

[Bobalu]

I'm reminded of the old joke.
I can't be broke! I still have checks left!!!

Forty acres and a mule
A chicken in every pot
Prosperity is just around the corner
Nothing to fear but fear itself

Sometimes images are just more descriptive

[The Working Man]

Because, you know, loosened mortgage standards seem to have played some role in helping set the stage for the catastrophic mortgage meltdown.

---

I agree they did play a role. However I think that the creation of Mortgage Backed Securities played an even bigger role and the beginning of the end of ‘that’ debacle isn’t even here yet.

[wastoute]

I have a better idea. Why don’t we just subsidize Heroin for bankers and politicians?

[tanknetter]

Respectfully, I need to take issue with the picture you posted (see below.) The reason is that in the past I've gone after Democrats I know for using it to represent poverty/food lines/oppression, etc. It's an incredibly deceptive picture that Libs LOVE to throw around and use as a weapon. I like taking that weapon away ;-)

In reality the picture shows Blacks in Louisville KY waiting in line to be evacuated by bus during the Great Flood of 1937. How the White (and indeed racist and segregationist) power-structure at the time took the effort to remove Blacks from danger, actually represents an excellent contrast to how Mayor Nagan failed to do so (cue images of flooded field of school busses) in New Orleans during Katrina.

[Lazamataz]

Doubling down on stupid.

Not stupid. Not at all. He simply has different goals than any other President.

EVERY decision he has made has been made with the goal of destroying America.

EVERY LAST ONE.

[Lazamataz]

Who is this person who every politician bows down to when he declares the law is in his mouth? No one knows who he is. Every American who supports these parties is a traitor. That’s right. You. Who is Obama? Do you know? No body knows - but we’re to keep quiet and take it. You’re idiots. You’re all idiots. Who is this destroyer? Who is Obama?

Obama is nothing less than a Human Cruise Missile, launched by our enemies (external *and* internal enemies) to destroy America.

[Bobalu]

Thanks, I knew nothing of the history of that photo :-)

It’s one that always pops up in any search for depression era images.

[Bobalu]

Yes, those Mortgage Backed Securities are as stupid an idea as buying stocks on margin. Stocks on margin is what led to the 1929 crash.

[SMARTY]

Return to the scene of the crime!

[Mich Patriot]

Dumba$s in chief to act again. There’s a REASON some people get turned down for loans, dumba$s.

[bert]

The balderdash about reducing lending requirements is a certain indicator of panic. That play resulted in a 50 yard penalty and the coach being kicked off the field.

The best he can hope for is to lose the gambit and then blame as many as he can........ terminal weakness

[Roman_War_Criminal]

It’s a human right you know....nevermind the fact that folks like me actually did it the honorable way. Building up that savings account over years and taking the plunge after having my 20% down.

I swear people these days are immediate gratifiers with zero self-control. If you don’t have the patience for saving over a long period of time to buy a home, then IMO you don’t deserve one.

[sport]

Obama has an ulterior reason for everything he does. Including breathing./