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Obama to loosen lending standards to boost
home ownership. What could go wrong?

American Enterprise, by James Pethokoukis

Original Article

Posted By:StormCnter, 5/15/2014 4:46:55 AM

After a near-depression and worst-ever financial crisis that cost the US economy as much as $14 trillion, one might think Washington would be careful to avoid repeating the same policy mistakes. One might think, for instance, Washington would think twice and then thrice before loosening mortgage lending standards to boost home ownership, particularly among low-income borrowers. Because, you know, loosened mortgage standards seem to have played some role in helping set the stage for the catastrophic mortgage meltdown. Recall three conclusions from the National Commission on the Causes of the Financial and Economic Crisis in the United States: 1.) From the majority

      


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Reply 1 - Posted by: Country Boy, 5/15/2014 5:22:16 AM     (No. 9849193)

Repeal obamaCare. Problem solved.

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Reply 2 - Posted by: steveW, 5/15/2014 5:22:26 AM     (No. 9849194)

You can´t make this stuff up.

When the USA, having finally succumbed to the "fairness" of the Left, is nothing but a heap of ashes, Barack Obama is going to stand on top waving a huge "Mission Accomplished!" sign.

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Reply 3 - Posted by: Elvira, 5/15/2014 5:46:25 AM     (No. 9849202)

You cannot be serious!! It seems as though every freaking day I go to check the news and there´s another head shaking, mind bending hair brain scheme from these evil nitwits!!

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Reply 4 - Posted by: DCGIRL, 5/15/2014 6:02:01 AM     (No. 9849212)

Are you kidding, didn´t we just go through this recently with the housing bubble. People purchasing homes that can´t afford them.

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Reply 5 - Posted by: Trigger2, 5/15/2014 6:37:10 AM     (No. 9849238)

Barry only has 3 years left to totally destroy the U.S., so this is a tried and true way to accomplish it.

Stop electing the destructive demonrat party sycophants.

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Reply 6 - Posted by: Gram77, 5/15/2014 6:45:02 AM     (No. 9849244)

#4.....took the words right out of my mouth!

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Reply 7 - Posted by: ROLFnader, 5/15/2014 7:55:49 AM     (No. 9849312)

It´s time to bring in Chris Dodd and Barney Franks to revise the Dodd/Frank Bill that fixed all the problems in 2010 that caused the depression of 2008 which occurred mostly because of the actions of Chris Dodd and Barney Franks since 2006.

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Reply 8 - Posted by: skedaddle, 5/15/2014 8:20:02 AM     (No. 9849361)

Note to self: get house ready to sell in coming inflated market and look for place to rent until after the coming collapse.

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Reply 9 - Posted by: mickturn, 5/15/2014 9:28:50 AM     (No. 9849455)

SO now the Dims have foisted on us...

LBJ the enforcer/criminal
Jimmah the Incompetent Loser
BillyBob the Horndog Liar
and
Obie the Lesser
and don´t forget Joe the Gaffe Machine...

How special!

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Reply 10 - Posted by: lylacat, 5/15/2014 11:03:49 AM     (No. 9849618)

Anyone who thinks loosening the lending standards will help the economy is either really stupid or insane. One example: A friend of ours who had NO money was allowed to buy a $850,000 house, with NO money down, interest only for ten years by Countrywide. The loan was for $900,000 ($50,000) over asking price, so they bought a new Mercedes, a $90,000 Porsche, and a new Harley Davidson. The motorcycle went away first, then the Porsche, and after a few years they could not even pay the interest only mortgage, so they lived free for two years before the house was foreclosed. How did this help the economy?

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Reply 11 - Posted by: oh-heck, 5/15/2014 11:49:43 AM     (No. 9849696)

Someone, perhaps Spooky Dude, has decided that he didn´t make enough money from the first go round. So he´s having Obama arrange another round. Lets defeat the plan by voting out all the Progressives.

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