This is some kind of a cosmic, time-warp joke, right?
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.
After Dodd/Frank, after Fannie Mae and Freddie Mac, after sub-prime lending conspired to lead to a housing bubble that gave us the economy we have suffered for years, President BO (the amateur president) wants to do it again!!!???
Is that what “fundamentally changing America” looks like?
PBO (tap)’s administration is saying that the nations much-celebrated, if unrealized, housing rebound is leaving too many people behind!!!
ARRRRRRGH!!
Richard Kovacevich, former CEO of Wells Fargo points out that without Fannie and Freddie’s involvement, the housing bubble would never have formed in the first place. Now the inept president wants to do it again!
Can you say, “bailout?” Can you say “Tax payer money poured down the drain?” Can you say, “Stupid?”
Not only that, but President BO (the amateur president) wants to let the Federal Housing Administration handle the issue.
In other words, let’s send FHA down the same street that Fannie Mae and Freddie Mac went down.
Of course there is this: a full fledged government agency will become very adept at taking us right back down the housing bubble road…probably even faster than FM and FM could.
Is there no one who knows how to learn from the past?
Really?
10 comments:
Ah, but Joe they ARE learning from the past - learning how to more and more bankrupt the government so as to eventually they will have to socialize the entire nation under government control.
GEC: And that is SO frustrating!
I got the feeling that it's already to late.
MCT: I wouldn't disagree with that at all.
You want to stimulate the economy? Lock Obama in a closet for a few years.
LR: A few years? There's a chance he might come out of the closet?
very well done Joe.
DO: Thank you. Thanks for dropping by.
"The definition of insanity is doing the same thing over and over expecting different results" ~ Albert Einstein
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