By the Left Coast Rebel
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.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.
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.
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