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Senior Advisor

Obama wants more risky home loans

Here we go again.

 

snp-

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.

 

http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-...

4 Replies
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Senior Contributor

Re: going for the ghetto crowd

has no sense of business the reason he is a demorat

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Senior Contributor

Re: Obama wants more risky home loans

That is not uncommon.  It would be an enormous jult to the economy if it happens but it obviously is the credit which might bring it undone.  Remember, the crisis was started by the fat cats in Wall street under the nose of GWB.  Obama came to the rescue and got things moving again and now he wants them to stick their neck out like he did in return.  Sounds about right don't you think?

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Senior Advisor

Re: Obama wants more risky home loans


@gough whitlam wrote:

That is not uncommon.  It would be an enormous jult to the economy if it happens but it obviously is the credit which might bring it undone.  Remember, the crisis was started by the fat cats in Wall street under the nose of GWB.  Obama came to the rescue and got things moving again and now he wants them to stick their neck out like he did in return.  Sounds about right don't you think?


Obama is in bed with the 1%. He will see to it they have no risk but great rewards.

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Advisor

Re: Obama wants more risky home loans

And of course in the not so distant future, should they successfully reblow the bubble (unlikely), it will be argued that government programs had nothing to do with the bubble. It will be exclusively unfettered capitalism to blame.