I Guess Obama Didn't Learn The Lesson

[esmith]

How long does it take for a politician to forget a lesson learned? It appears not long since Obama is now pushing for home loans to individuals that have poor credit. I was lead to believe that the sub-prime mortgages were one on the causes of the recession. Maybe I'm wrong but isn't Obama's push for banks to loan money to those that do not have good credit basically the same thing. . Telling banks that they will be backed up by the Federal Government.....read the poor taxpayer.....when the loan defaults.

Obama administration pushes banks to make home loans to people with weaker credit - The Washington Post

 

[Trolle]

Politicians and Wall Street are in bed together. Neither cares about the taxpayer who will ultimately get screwed yet again after the economy tanks and banks go begging on their knees to Congress for another bailout.

 

[Wirey]

This should honestly be grounds for impeachment. What an idiot! Bury the economy again, why don't you?

 

[Revoltingest]

Politicians and Wall Street are in bed together. Neither cares about the taxpayer who will ultimately get screwed yet again after the economy tanks and banks go begging on their knees to Congress for another bailout.

There is an unholy relationship between Obama & Wall St, but in this case it looks more like pandering for votes of the poor/marginal class. Lenders are more on the hook than before for risky loans sold to buyers, so they probably don't see much profit relative to the risk.

 

[Revoltingest]

This should honestly be grounds for impeachment. What an idiot! Bury the economy again, why don't you?

The great thing about this political strategy is that there'll never be a clear connection between encouraging risky lending & an eventual economic crash. Impeachment? It'll never happen.

 

[Sunstone]

How long does it take for a politician to forget a lesson learned? It appears not long since Obama is now pushing for home loans to individuals that have poor credit. I was lead to believe that the sub-prime mortgages were one on the causes of the recession. Maybe I'm wrong but isn't Obama's push for banks to loan money to those that do not have good credit basically the same thing. . Telling banks that they will be backed up by the Federal Government.....read the poor taxpayer.....when the loan defaults.

Obama administration pushes banks to make home loans to people with weaker credit - The Washington Post

I suppose in your alternate universe it was government backed home loans to persons with poor credit that lead to the Great Recession. LMAO!

 

[esmith]

I suppose in your alternate universe it was government backed home loans to persons with poor credit that lead to the Great Recession. LMAO!

And in your alternate world the FUBAR of the sub-prime mortgages starting around 2004 was a good idea? NLMAO.
Do you even know what caused the Great Depression of the 30's? I seriously doubt it since you seem to take a cavalier attitude toward irresponsible economic dealings.

 

[Revoltingest]

And in your alternate world the FUBAR of the sub-prime mortgages starting around 2004 was a good idea? NLMAO.
Do you even know what caused the Great Depression of the 30's? I seriously doubt it since you seem to take a cavalier attitude toward irresponsible economic dealings.

A problem with discussing the economic crash is that there were many risk factors & culprits leading up to it. Try to discuss any one of them, & some people with mistakenly presume a claim of sole culpability. It's never so simple.

 

[Wirey]

This has already nuked the economy once. Reinstating it is essentially asking like Germany to form another Nazi government. I can't believe anyone could try anything this short-sighted.

It will get the poor out to vote Democrat though, the cynical part of his mind said.

 

[Revoltingest]

This has already nuked the economy once. Reinstating it is essentially asking like Germany to form another Nazi government. I can't believe anyone could try anything this short-sighted.

It will get the poor out to vote Democrat though, the cynical part of his mind said.

I've been hearing ads for subsidized 100% financing for a while now.

 

[dust1n]

The story seems to refer to very different effects than ones being put out here.