Obama Administration Pushes Banks to Make Home Loans to People with Weaker Credit

Zachary Goldfarb, Washington Post, April 2, 2013

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.

Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan and are seeking to make it easier for people who owe more than their properties are worth to refinance at today’s low interest rates, among other steps.

{snip}

The FHA, in coordination with the White House, is working to develop new policies to make clear to banks that they will not lose their guarantees or face other legal action if loans that conform to the program’s standards later default. Officials hope the FHA’s actions will then spur Fannie and Freddie to do the same.

The effort requires sign-on by the Justice Department and the inspector general of Department of Housing and Urban Development, agencies that investigate wrongdoing in mortgage lending.

{snip}

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  • Michael_C_Scott

    This worked so well the first time we tried it!

    The height of insanity, it has been said, is continuing a behavior while expecting a different result.

  • Paleoconn

    He hasn’t forgotten that this doesn’t work. He doesn’t care. Obama is the worst president ever and the endless parading of racial (non) events and activities is nauseating. The other day the had some stupid media op at the White House for that lame-looking Jackie Robinson movie. The scenes from that film look so comically serious and exaggerated, I may just watch it for the laughs.

    • The__Bobster

      That movie was produced by the usual supects to stir up more anti-YT feelings.

    • Because Obama doesn’t think that affirmative action mortgage lending was the cause of the economy almost coming to a total crash. So why shouldn’t he ordain that affirmative action mortgage lending start again when it didn’t cause anything bad? To Obama, it should have never stopped.

      If you go outside in a thunderstorm and you get hit by lightning but survive, but you don’t think that running around outside in a thunderstorm was the cause of your getting hit by lightning, of course you would keep on running around outside during a thunderstorm.

  • Duke56

    I think we all know who “people with weaker credit” are.

    • Bill

      Credit CAN be repaired. But it takes time, work, and self restraint. Not attributes held by “his people”. SO much better for the country to do this all over again and REALLY destroy the economy and America.

      • Michael_C_Scott

        “It takes time, work and self-restraint.”

        It also takes paying one’s bills on time.

    • lessthantolerant

      yes losers and minorities which add nothing to the economy.

  • Bobby

    Bush already did this during his term. It resulted in thousands of loan defaults. Obama or whoever is behind him, is an evil entity.

    • Stentorian_Commentator

      I think I see BO’s logic. His people might get some benefit, and those who are not his people will definitely have to pay the cost.

      • NeanderthalDNA

        Binb bing bing! No lose for non-whitey!

        • Pamela Franck

          upto I saw the bank draft ov $5599, I accept that my mom in–law was like they say realie taking home money in there spare time on their computer.. there moms best friend had bean doing this for under 21 months and just now took care of the mortgage on there condo and bought Chevrolet. I went here, Big31.com

          • Pamela is a scammer. Big31.com will load your computer with viruses.

      • mike

        There really was no benefit to blacks in the last go around of loose credit. They should have never got those loans in the first place given their credit ratings and no one lost their homes or jobs at a larger percentage rate than blacks. True we all paid the price with a crashed economy but they gained nothing either. So what is going on is just politics and posturing, nothing more. Tells you Obama is either not too bright or really doesn’t care.

        • Funruffian

          What a about the massive lawsuit awarded to Blacks you defaulted on their loans with Bank of America?

    • fakeemail

      It was all part of the Bush/Rove grand plan to make minorities into homeowners and thus stalwart Republicans. You know, at the time I did not despise W. and wanted to believe he had some real conservative spirit. But the more I look back on it, his presidency was a total tragedy and truly unmasked the republican party for the frauds that they are.

      • Epiminondas

        After GHW Bush, there was no way I was going to trust his son. Sorry you got sucked into that. You’re a better man now, though.

      • Stentorian_Commentator

        Amen to that. So many opportunities to avoid disaster frittered away because the GOP served up the Bushes. Especially 1992. Hard to know if Uncle Pat Buchanan would have won, but if not, he would have gone down swinging. Had he won, he would have enforced immigration laws, changed our trade policies, he would have used the collapse of the Soviet Union to pull out of Europe and East Asia, and he probably would have got us out of the Middle East. We still would have been attacked by muslims now and then, but he would have struck back. Ah, we can dream, can’t we? For now, I’m with Jeff Sessions of Alabama for 2016, but I’m worried that a neo-conman named Michael Ledeen has said good things about him.

      • Bobby

        Oh, I entirely agree. The Democrat Party is very strange. The very stuff they keep endllessly yapping about and blaming the other side for, is what they are now doing–IN SPADES. These two political parties will be the ruination and downfall of the U.S.

    • Gerónimo Anónimo

      It’s definitely a validation of the definition of insanity. In this case I’m convinced that they’re doing it again to restart the crisis. The more chaos, the more power they will grab while many Americans are totally preoccupied with Mau Mau March Madness!

      • Bobby

        Yes.

      • Northern American-Nationalist

        The more chaos, the more Americans will wake-up, the more immigrants (and some of their off-spring) will stay home or return home, the more proof there is against the corrupt tyranny of certain one-world, statist ideologues and ideologies.

        I’m 25, and I say bring it! Two can play the Cloward and Piven strategy. Who’s system exactly is the one that’ll be overloaded and collapse under it’s own weight? Who’s playing who here?

  • 48224

    “Have we already forgotten about the mortgage banking crisis?”
    What banking crisis? All I see on the news is that Kim Kartrashian is having a baby out of wedlock with a black dude and we should all be jumping for joy about it! I don’t know nuffin ’bout no banking crisis!

  • The__Bobster

    Sometimes I think I’m living in the Bizarro world. Me no understand giving money to people who can’t pay it back.

    • fakeemail

      Hello America.

    • GM (Australia)

      What about banks who can not pay it back, does the bank of Cyprus come to mind at present? Will American banks be in the same dismal position if this insanity continues?

      • Beetlejuice

        Yes.

      • Non Humans

        What’s this “Will” business? We’re already there. It’s just a matter of time before everything goes to $… Their solution is to just keep printing money, which historically has always led to failure, catastrophic failure. I’ve been stocking up on rice, beans, water and 30.06 ammo.

  • So CAL Snowman

    “The effort requires sign-on by the Justice Department and the inspector
    general of Department of Housing and Urban Development, agencies that
    investigate wrongdoing in mortgage lending.”

    Whew, for a second there I thought we were screwed again, but thank God we have the Justice Department and HUD standing in the way. I’m sure they will fight this thing tooth and nail.

  • bigone4u

    The plan this second go round is to get as many nonwhites into white areas as possible and then when they don’t pay their mortgages forgive part of the balance and work out a super easy payment plan–$200 a month for a $300000 loan balance. Economics is not motivating the federal government–anti-white, pro-black racism is.

  • [Guest]

    This is perverse in several different ways, one of which is that it’s a slap in the face of every family that has worked hard, planned carefully, spent and saved responsibly, and finally got to the point of buying a home the old-fashioned way.

    The government has made itself the enemy of that demographic.

  • khesanh67-68

    Einstein would be having a field day with “doing the same thing over and over and expecting different results” – definition of insanity.

    • MikeofAges

      Don’t quite agree entirely. But doing the same thing over and over thing and expecting different result surely is the definition of futility.

    • JoeG

      Unless you’re dealing with a time dependent system.

  • Is the government going to buy them a hooptie too so they aren’t stuck out in the suburbs without transportation?

  • Belfast Brawler

    This article should be preceded with the following in italics: “Stop me if you’ve heard this joke before.”

    • Epiminondas

      But seriously, is our children learning?

  • Dave4088

    People with weaker credit is just lamestream media code speak for non-whites and Obozo voters. And if I recall, Holder’s recent spate of lawsuits against major banks in mortgage lending have made it next to impossible to default on a mortgage given to a diversity.

    This is just another clever wealth transfer that punishes whites and rewards non-whites. Don’t expect any opposition from the milquetoast, diversity coddling Republicans.

  • brengunn

    Housing officials are urging the Justice Department to provide
    assurances to banks, which have become increasingly cautious, that they
    will not face legal or financial recriminations if they make loans to
    riskier borrowers who meet government standards but later default.

    Does that mean that banks are to provide loans with no risk attached because the government will pick up the tab? That is a perversion of the system which is rife for exploitation. For a country that supposedly loves capitalism, America(Europe, too) has repeatedly subverted the most basic tenets of the system, firstly with schemes like these and more harmfully with the major bank bailouts which eliminated risk and rewarded failure. The rich keep their false profits and the taxpayer picks up the tab. Great work if you can get it.

    There probably is a problem of banks not providing loans to legitimate and profitable businesses at the moment, or to house buyers that have the means to pay for a mortgage but the answer is not for the government to guarantee the loans.

    • Tom_in_Miami

      I believe “financial recriminations” means “bearing the responsibility for loans that go bad when there was never any indication that the borrower had the slightest chance of repaying the loan.”

      • Formerly_Known_as_Whiteplight

        These loans are no doubt backed up by mortgage insurance paid by the lender and will pay off on default. Lending is always a gamble, but these guys protect their bets whenever possible. The overall problem is that so many people including whites, can’t get mortgage loans anymore and the more whites are suppressed the truer this will become. So in the near future, you’ll see more non-whites talk of how whites have bad credit like they do about whites being mass shooters and neo-nazis now.

  • David Ashton

    Here we go again…watch out world!

  • Bill

    Coming to a home in your neighborhood…….a tax payer funded crack house in what used to be your nice neighborhood. Expect to see traffic on your street 24/7 engaging in very short visits.

    • Non Humans

      One of the only good things about nonhumans is that they tend to be their own worst enemies. When you see this, call it in to the police, frequently.
      .
      When I lived in A T Hell, there was a fambly of coke dealers directly across the street. Whenever I would see random cars coming and going, I’d make that little phone call, next thing you would know, there was an unmarked car at the end of the street, and a marked one down the other way. Pretty sure I got a couple of them sent away to the “U” more than a couple times.
      .
      Having your property value tank because of the nonhumans has to suck, though. Good thing I was renting down there.

  • Bon, From the Land of Babble

    Undeserving, government entitlement parasites “of color” once again given homes they cannot afford, cannot pay for and cannot maintain — all backed up by White taxpayers.

    What could possibly go wrong?? It worked GREAT during the George Bush II administration. (didn’t it?)

    “Working with banks” means government strong-arming, government threats, interference in bank business, extortion — and accepting 100% of the blame when the next bubble explodes — for coercing “people of color” into signing “toxic” loans.

    I think I’m going to start withdrawing my money from the banks….so my accounts don’t become part of a Cyprus-style bailout.

    Bon

    • Michael_C_Scott

      I sold all my bonds & mortgages investments when I saw what was coming.

  • guest

    The Realtor organization also has a long history of pushing for relaxed lending standards to increase homeownership rates.

  • ImTellinYa

    First of all, Obama doesn’t care if the economy is ruined. When he says he wants more loans to people with weak credit (that’s like saying let’s give more drugs and alcohol to people with weak character) he’s merely saying that we should transfer more wealth from the productive (read White) to affirmative-action parasites and third-world savages (read nonWhite).

    This is of course literally evil and insane, but that’s what defines the Leftist agenda. And the neoCons rationalize it by indulging in the fantasy that giving free stuff to nonWhites will turn these savages into high-IQ, White, suburban Republicans. This is magical thinking of the most extreme variety.

    This is the story of our era: Lower your standards to the point to which you might as well not even have any, for the purpose of a fleeting short-term gain of nothing much in particular, and the result of which is the destruction of everything good, successful and worthy.

    The most glaring example recently is the Diversity Housing Bubble. That entire debacle is proof that the Leftist elite is mentally ill. Most of our ruling elite is composed of people of higher-than-average intelligence and yet they were almost all on board for Bush’s insane attempt to turn Hispanics into suburban, White Republicans. Most of them acted as if an overpriced housing market fueled by bogus loans was proof of a healthy economy.

    In the middle of the Bubble the leader of the corporate parent company of our major daily newspaper thought that the Bubble was a perfect economic climate for him to acquire Knight-Ridder: a massive, failing, bankrupt string of newspapers and other properties. There were no other buyers, but that didn’t give him a clue. He plunged the company into debt to buy this rotten, stinking mess.

    When the Diversity Housing Bubble burst, as the fellows at the Daily Reckoning had been accurately predicting from the beginning, the corporate boffins all raised their hands in horror and wailed, “who could have foreseen such a tragedy?” as our new acquisition almost took the original corporation down with it. We have not recovered, nor will we.

    Our corporate “leaders” were smart enough and had the proper information to see that the U.S. economy was being systematically destroyed by Leftist policies and that the Bubble was just another fraud. But their actions indicated that they were true believers in this lie. The only conclusion to draw from this is that our ruling elites are mentally ill. They are able to deny reality even when that reality is completely obvious. Their mental illness is caused by fear of the consequences of destroying the system of lies the Left has constructed. Even now, the government is still trying to re-inflate the housing bubble. To them that utter fraud based on a lie was “the good old days.”

    • Have you seen the movie Margin Call yet?

      If you haven’t, I’ll sarcastically net it out:

      Mid-level managerial munchkin is doing some complex mathematics using pen and paper. In a split second, he sees something so horrible that it makes his eyes bulge out, as if a super giant grizzly bear is making a beeline straight toward him. Cue the ominous orchestral music, and ramp it up as he hurriedly rushes out of his office, heads toward the elevators, waits for an “up” elevator to ring, then the music gets even louder as the elevator with him in it slowly makes its way upward to the top floor.

      Munchkin gets to the top floor, sees the CEO in an impromptu meeting that at least to the CEO is more important business than talking to the Munchkin at the moment. Orchestral music calms down as Munchkin waits for the CEO to pay him attention. CEO finally does that, and the music stops. CEO and Munchkin walk off to the side.

      Munchkin whispers to CEO, showing him his handwritten pen-and-paper math: “Did you know, sir? All our assets are built on top of the rock solid foundation of $720,000 mortgages issued to illegal alien Hispanic strawberry pickers making $14,000 a year.”

      CEO whispers to Munchkin, while looking him in the eye: “Yeah, what could possibly go wrong?”

      • ImTellinYa

        Ha ha. That’s about right. The Whites among our “ruling elite” have embraced the values of third-world savages out of cowardice and short-sighted greed.

        • Formerly_Known_as_Whiteplight

          Hmmmm, check out the activities of whites during the 19th century Industrial Revolution. You might just focus on the management style of early white capitalists and how they treated all white employees. Check out the history of coal mining capitalists vs labor. It’s not always a “black and white” issue.

  • NYB

    The global supply of money in circulation is in danger of falling below critical levels.

    Like a patient whose blood pressure is sinking, the finance system is at risk of going into shock.

    Increasing demand for housing creates money on paper, offering temporary reprieve from the inevitable collapse.

  • Jim G

    White people and Black people will segregate naturally because Blacks generally do not want to sacrifice and save to buy a home. It goes back to the findings of J. Philippe Rushton detailed in his book Race, Evolution and Behavior.

    Sacrificing for the family and saving requires living with one mate and investing much of your recourses in the raising of children. It is the biologically determined behavior that satisfies an animal naturally to use a K reproductive strategy.

    Impetuous behavior with multiple mates and expending much of your resources in multiple mating activities with little spent on the care of children is the biologically predetermined behavior that satisfies an animal naturally to use r reproductive strategy.

    Making a good home for a family is a White thing.

  • barack bush

    So what else is new? Bush gave Obama the bank robber the keys to the bank and all this pos typical half negro has done is blow close to 7 trillion in a little over 4 years in office proving everything you ever heard about this inferior race is more than true.

    By the time Obama gets out of office the nation will be a 3rd world socialist banana republic just like he wanted to leave it knowing the next white president will assume a mess of red ink 10 times bigger than he got from Bush his fellow Lincolnite liberal who flooded 30 million spics in to build all those 15 million foreclosed homes.

  • lessthantolerant

    What a great idea! Let’s loan more money to the losers and minorities who add nothing to the economy! This socialist crap has got to stop.

  • Epiminondas

    I suppose you could make the claim that we’ve been on a course to self-destruction since the first blacks were brought over here in the 17th century. Or you might say that our spiral began with the romantic Christianity of the Abolitionists and their crazed followers. Or you could point to the increasingly sieve-like border, or the unassimilable waves of various non-Christians, and perhaps other slow fuse incidents. Whatever cause and effect scenario you find resonant, the fact of the matter is that we’re right on the edge of economic and social catastrophe. Those of you looking backwards at the Civil War would be better advised to re-think the situation. History may repeat, but it will never do the same things. The “war” is being fought out NOW. Whatever violence that may follow an economic meltdown will be very brief and probably not as bloody as you think. Tyranny will follow. The question in my mind is how long a central government tyranny borne of bankruptcy can forcibly hold the country together. Be very careful where you decide to make your home. You may, at some point, be forced to remain there longer than you might wish.

  • they all the same

    with almost 17 trillion national debt none of them really have a clue

    obama with the hidden birth certificate schooling and grades or test scores etc is still no different than your average shuck and jive illiterate colored high yellow mulatto with the keys too the bank

    dont buy the lie that whites owe them something when whites took them out of africa as a free gift that could never be repaid

  • Whirlwinder

    No, we have not forgotten the recent sub-prime crisis, Obammy is just doubling down in his efforts to destroy our economy and our country.

  • Mariner33

    The purpose of this is to collapse the economy, nothing less.

    http://discoverthenetworks.org/groupProfile.asp?grpid=7522

    • Michael_C_Scott

      I’m not certain it’s that. My suspicion is that as socialists, President Oogabooga and his henchthugs honestly do not understand where money comes from or why there really isn’t any such thing as a “free lunch”. I expect Eric Holder to start complaining that the Second Law of Thermodynamics is “racist” and demand its repeal any day now.

  • potato78

    Obama proposes cuts to Social Security.
    http://news.yahoo.com/official-obama-proposes-cuts-social-security-111357788–finance.html

    Is that Social Security is for rich and normal people in US?

    however, welfare is for illegal and poorer people in US?

    • IstvanIN

      Yes, you cut “benefits” (SSA) for the undeserving (white taxpayers), benefits that they paid for during a lifetime of work, so that you can give assistance (welfare/SSI) to the deserving (black/brown) underprivileged, who were kept down and prevented from reaching their full potential by the white man. People who were forced to have children out of wedlock, drop out of school, commit crimes, sneak across the border, sell or abide drugs, by the white man.

      • Bobby

        And remember folks, he’s a “Democrat”, those folks that endlessly talk about “civil rights”,”being honest and just”, being fair to the “working man”, and didn’t they start social security? Any American citizens who still thinks that these two parties Democ-RATS and Repubi-CONS, are at some kind of ideological war with each other, is a highly deluded American citizen. When the massive, nation destroying amnesty and the never ending “quest” for a “secure” border comes to an end, the flakes in these two political parties will simply celebrate by going golfing followed by dinner at one of D.C.’s six thousand restaurants. Americans are the most NAIVE people in the world. Hands down.

  • incorrigible

    This is disheartening … borderline depressing to me. Starting with a 1000 dollar car loan when i was 17 (co-signed with my grandmother) i’ve taken great care, reading up on credit scores, how they work, what raises them, etc. I kept my very first credit card, despite its insane apr, just to maintain a lengthy credit history. I have absolutely 0 late or missed payments, despite going through a divorce which left me with roughly 50k in debt. Im nearing 30 years old, and i’ve put all this work, effort and painstaking care into maintaining a flawless credit history so that whwn it comes time for me to purchase a home, ill be able to do so with no fuss. And now this … again …

    Knowing that i put literally over 1/3 of my lifetime into doing things the “right” way… and some minority piece of trash with no job, a dozen kids, a brand new cadillac with 20″ wheels can just drop by the local bank of america and get approved for a home loan with a credit score of 550 simply because his skin isn’t white ? … its sickening, disheartening, depressing, and disgusting … what in the name of god happened to this once great country.

  • Remember, this is payback to many who supported Obama—the one’s who are flaky, ignorant and will lose their houses to foreclosure anyway…then he can blame the banks—-AGAIN.

  • Bobby

    Here in California, it’s party time for Mexicans illegally in the state. First, California’s traitors, sometimes known as Sacramento polticians, already rob legal taxpayers with some of the highest taxes in the states, in order to keep up the insane social programs for illegal aliens, It’s so bad that, Mexicans, and probably others, get easy credit, then charge expensive furniture, cars, Armani suits, Rolex watches,etc. and take off to Mexico with the stuff before declaring bankruptcy. Now, does anyone imagine that the Banks, etc. are going to send people to Mexico to get that stuff back? Then in a couple of years, the easy credit begins again, when the bankruptcy is forgiven. And people wonder what is wrong with the economy!?? Wall Street and the corrupt banks are what is wrong with the economy. The worse aspects of Main street, are just a reflection of the filthy and corrupt Wall Street and banking system.

  • Katherine McChesney

    I read that this was coming. Banks will be required to accept their welfare checks, ebt cards as collateral.

  • rebelcelt

    Do not eat the red herring. This is going to happen no matter who is president. All money in our economy is LOANED from the Federal Reserve. It has to be paid back with interest, subsequently more money is owed than is in the economy. So, more money must be loaned into the economy and the cycle continues. Obama was doing it with massive government spending, now he is taking a page out of the Bush playbook. BUT, the result is the same more money borrowed either by the government or the private interests. I am surprised it has not completely folded years ago. It will all fiat money systems collapse.

  • the fraud in the white house

    Clearly with 7 trillion of his own national debt in only 4 yrs 3 months this Kenyan half negro FRAUD in the WH has a room temp IQ and why he refuses to make public any records on his education or student loans, social security, etc.

  • CalliePeach

    I think it is risky without looking at what would qualify a person to get this help. I cannot believe that a blank approval is being given. In order to get the loan, you are going to have to have a job/job stability, an ability to explain your past and current issues that lead you to a poor score. Especially with FNMA being apart of the process.

    What I think people are not looking at is the fact that those loans given between 1998 to 2006 were loans with horrible rates like 9, 10 and sometimes 11 percent with balloon payments and interest only built in. They were stated income and sub-prime. Those loans were setting people up for disaster. What, I hope, is being offered here are loans that have the same interest rates that are given to A1 borrowers. Then, there is a likelihood that the borrower can keep up the payments. There are so many landlords that are taking advantage of this economy and charging rent like it is mortgage and even higher. 3bed/2bath apartment for $800 to 1600 per month when you can buy the same but a home and the payment is $400. And you still have to pay the same utilities and pest control as if you were in a home? Please, this is not rocket sign or about being hateful to those who have had bad credit. This is about helping millions of Americans get back in the saddle and they are not all minorities. Lots of them are white apple pie tax paying citizens who deserve a helping hand.

    • Michael_C_Scott

      Good points, but the so-called “adults” taking out these loans could have done some thinking for themselves. For example, if one is making interest-only payments and not reducing the loan principal, one is really just renting from the bank. One isn’t building equity, but is still on the hook for the difference if property values actually decrease, which of course they did. When the idiots were signing onto mortgages like this, why didn’t they buy some magic beans as well; these terms were clearly well into “magic beans” territory.

      Buying a home is the most serious financial decision most people make during their lives, and far too many folks simply didn’t do any of their homework. This is the same as assuming that there isn’t anything to hang-gliding that you can’t learn solo on your way down the mountainside! There was one gal interviewed on TV who cashed in her 401(k) and ploughed everything into real-estate, figuring she would flip all the properties in a few years and make a bundle, instead of losing her shirt. She already owned her own home, and just wanted to cash in on the speculative boom without understanding exactly what a speculative boom is.

      If the best excuse these dingbats can offer is “I’m stupid and those bad old bankers tricked me,” I can’t feel sorry for them. Those “bad old bankers” were being strongarmed by the feds.

  • Same thing happened in South Africa after 1994. The results can still be seen. They bankrupted our Landbank within four years, resulting in so much less money available for agricultural development. During 1the 1990’s we had about 40 000 commercial farmers in South Africa. To day we have less than five thousand. The farm murders naturally also have the same effect. Thousands of our farmers have moved out of the sector, or are now farming in other countries.

  • Hunter Morrow

    Do you know who really benefited from it the first time around? “White” bankers. But lets just pretend that Demarquis and Jose cooked up a 90 trillion dollar international swindle.

  • get off my lawn

    Lending to people who can’t afford to pay the loan back, or worse artificially placing people who don’t have the necessary skill sets to run a household in positions that require those skill sets never works.

    I don’t understand what the redistributers are hoping to gain from this. We are still cleaning up the mess from the last round of poor credit standards baked by the govermnet. Isn’t it too soon to be advocating this, people remember!

    On top of that the government and banks never “fixed” the underwater loan/house-value situation. Maybe they should fix that first before doing creating more of the same problem.

  • WhiteManFromTown

    As long as We The People continue to talk and babble about our FOunders without looking at how they reacted, we are gonna be here 10 years from now complaining that They The New American Majority is taking away our rights to speech. Of course theyll say “just some of your speech…how many words do you need”.

  • Northern American-Nationalist

    Double-dip recession anyone?