Is There Even Hope for America? Obama Admin. Doubles Down on Collusion that Caused Housing Crisis

By the Left Coast Rebel

Only the federal feral government could possibly be this stupid and dangerous.

From the Washington Post this morning:

The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
If you are shaking your head and thinking this kind of insane policy can't be possible - especially since the dust still hasn't settled from the housing crisis caused by the federal government/FHA/Fannie/Freddie/bankster/too-big-to-fail banking collusion - you'd be wrong.

May nothing get in the way of turning America into a has-been third-world socialist country; history (even recent) cause and effect, moral hazard and simple economics be damned.

For the truth on the housing crisis, pleas read this via. Reason.com: The Truth About Fannie and Freddie's Role in the Housing Crisis

Updated: Via the comments, Grant Davies over at What We Think and Why has an excellent post from Dan Mitchell up

13 comments:

  1. Dan Mitchell of the Cato Institute wrote about this today. I republished it on WhatWeThinkandWhy (with his permission) and interested parties can read it there if they are so inclined.

    ReplyDelete
  2. I had the exact same thought this morning on Twitter:

    Obama: banks should make more bad housing loans to deadbeats washingtonpost.com/business/econo… #definitionofinsanity— W.C. Varones (@wcvarones) April 3, 2013

    ReplyDelete
    Replies
    1. A foreign foe couldn't destroy our society as well as our gov't has and is.

      Delete
  3. To crib an old adage.. as things change the more they seem to stay the same. And get worse.

    If history teaches us anything it is the simple truth humans are creatures of habit. And many, if not most prefer NOT to "think outside of the box."

    Could it really be twilight time? If history is a good predictor it seems so

    ReplyDelete
    Replies
    1. On the positive side, this kind of policy wouldn't have changed had there been a "president" Mittens Romney.

      Delete
  4. .

    "... a has-been third-world socialist country;..."

    You do have a vivid imagination. Do you think your hatred of USA, colors your world view?

    Ema Nymton
    ~@:o?
    .

    ReplyDelete
    Replies
    1. Ha! Hate America? That's a first - I hate socialism, collectivism and anti-individualism.

      Delete
    2. I have a question Ema. Do you love the USA no matter what happens? Could anything change your "love" of the USA?

      There are many historical references to people who thought they "loved" their countries, but think better of it now that it is in historical perspective. Can you think of any?

      Delete
    3. Great point Grant. I assume you won't get a response on that one - other than non sequiturs and hyperbole, such as "if you disagree with the Obama Admin, you hate your country," or, of course, you're a racist too if you dare critique our masters.

      Delete
    4. .

      Grant Davies,

      "Do you love the USA no matter what happens? Could anything change your "love" of the USA?"

      Let me guess; you did not attend public school where they teach students to count. Right? (In case you missed it, you asked two questions.) You failed your courses on 'reasoning' and 'logic' in your elitist private school too.

      Left Coast Rebel,

      "I hate socialism, collectivism and anti-individualism." You forgot you hate yourself more than you hate socialism, collectivism and anti-individualism.

      Ema Nymton
      ~@:o?
      .

      Delete
    5. PS..You guessed wrong. I attended only government schools. They taught me that the proper count on the above example was: questions = 2. Answers = zero.

      They also taught me that insulting people with preposterous claims and dodges did not constitute an answer.

      Goodbye, and good luck in whatever it is you do when not trolling this site.

      Delete

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