It seems everyone knew certain people would not pay for their 350,000 dollar new home but politics prevailed, so has anything changed are we still knowingly making bad loans for political reasons, called votes. Just have far are we to go down the road of politically correct loans.
GIVING money to the financially-defunct is the MISSION of Barack Hussein Obama.
He SUED for this to happen as a "community organizer"….
He TOOK KICKBACKS while a Senator…..
WHY would anyone dare say he’s signing a different tune now????
Comments
GIVING money to the financially-defunct is the MISSION of Barack Hussein Obama.
He SUED for this to happen as a "community organizer"….
He TOOK KICKBACKS while a Senator…..
WHY would anyone dare say he’s signing a different tune now????
References :
He should.
Clinton started this housing mess, and now that He, I mean err she is on board Obama will follow suit.
References :
"We are the ones we have been waiting for"
Barrack Hussein Obama
Including "Barack Hussein Obama" in an answer precludes any objectivity. Community organizers (Obama included) work tirelessly to protect people from such things as predatory lending practices. Until the whole market collapse, it was the banks making these sub prime loans who benefited most from them. They loaned the money to people who made payments for a few years, then they couldn’t make the balloon payments anymore so the bank repossesses the home and sells it again. The banks didn’t expect this to become so widespread that the whole market would fall, leaving them losing money instead of making it.
So, the short answer is no, Obama will not require banks and mortgage companies to make sub prime loans.
References :