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Here we go again: Obama administration pushes banks to make home loans to people with weaker credit

 
goldielucks

User ID: 794598
United States
04/03/2013 01:14 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
This is the same failure under Clinton that Barney Frank and Chris Dodd pulled.
 Quoting: Anonymous Coward 34302774


Clinton's "Fair Housing Act" set-up the "Dodd-Frank Act"...
"Democracy is nothing more than mob rule, where 51% of the people may take away the rights of the other 49%." ~ Thomas Jefferson

Mrs. Powel of Philadelphia asked Benjamin Franklin, “Well, Doctor, what have we got—a Republic or a Monarchy?”
With no hesitation, Franklin replied, “A republic, if you can keep it.”
Crazy Harriet

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Japan
04/03/2013 01:18 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
With all due respect, this was done in the 1990's and was pretty much done by 2003.
It is in the interest of Tyrants to reduce the people to Ignorance and Vice. For they cannot live in any Country where Virtue and Knowledge prevail. The religion and public Liberty of a People are intimately connected; their Interests are interwoven, they cannot subsist separately; and therefore they rise and fall together. For this Reason, it is always observable, that those who are combined to destroy the People’s Liberties, practice every Art to poison their Morals. Sam Adams
Anonymous Coward
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04/03/2013 01:49 PM
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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
otrike
beeches

User ID: 28167778
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04/03/2013 01:50 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


The housing collapse in the U.S and subsequent economic tsunami wasn't caused by people not paying their mortgages all on its own....

It was caused by the banks fraudulently offering those weak mortgages as AAA credit while bundling them into derivatives, combined with the predatory lending spree that was happening in the sub-prime loan industry(which was heavily weighted with fly by nights and fraudsters who clearly took advantage of the disadvantaged).

There are still plenty of honest people out there, stop taking cheap shots at the poor to score political points. It is inhumane, and reeks of subservience to the Corporate greed which has fucked the world markets up to begin with.
 Quoting: Anonymous Coward 37363139


Wow. Did you look in the mirror at yourself when you thought that?

So angry. Well, the dis-advantaged take advantage of the system too.
Just being poor does not mean you are not a lying schmuck too.

Loans to uncreditworthy people are a help to no one.
Now is the time.
anonimalle

User ID: 25935386
United States
04/03/2013 02:03 PM
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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


Obama was an attorney for ACORN in Chicago where they forced (I think it was CITI bank) to make bad loans. The whole housing mess basically started there and with Obamas involvement. Research it yourself unless it has been scrubbed.
Behind every myth lies a mystery, and every legend holds an echo of the truth …… anonimalle

" At the siege of Vienna in 1683 Islam seemed poised to overrun Christian Europe. We are in a new phase of a very old war."

Gates of Vienna.

"May we smite our enemies to the darkest chamber of hell, for we wish only to live in peace, and they desire only to put their boot upon our neck."
STARLING
godlike productions

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04/03/2013 02:05 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
This is the same failure under Clinton that Barney Frank and Chris Dodd pulled.
 Quoting: Anonymous Coward 34302774

clappaThis is what started this whole banking mess. And Obozo blamed Bush. Of course banks would try to dump bad loans they did not want to make in the first place. So many people blame banks,But it was package and sell these shit properties or die on the vine. Focus your anger on DC for they made this happen with their everybody deserves to own a home mandates. Many "new home owners" didn't even have a job, let alone make even a first payment. Look at what you have destroyed, you fucking deserving Libtards, I imagine you will soon know Fear. Peace to all.
beeches

User ID: 28167778
United States
04/03/2013 02:29 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Does anyone have any thoughts as to who these people with weaker credit are?

I have my thoughts.. and they are not good.
 Quoting: Angelic_Warrior


Redlining was a valid and moral business practice...refusing to loan money to people in the ghetto only makes sense...it's not my fault that redlining prevented 99.9% of blacks and Mexicans from getting loans they could never pay back.
 Quoting: BRIEF




These people with "weaker credit" are blacks, mexicans, all the illegals, and all the other irresponsible people who have not paid their bills or been responsible enough to show a work history. People who haven't paid their bills in the past are in a pattern and aren't likely to pay them in the future.
 Quoting: Anonymous Coward 37365801


Exactly, which is why the Liberals made it illegal because they see it as being racist, but the conservatives that own the banks only see it as the facts...Liberals hate facts, feelings are more important to them.
 Quoting: BRIEF


BRIEF, that is the best thing I have ever read about liberals, and it is absolutely true.


Feelgood means more than actually doing good.
I asked once for a loan that bank did not give me.
That bank did the right thing.
Now is the time.
davvi

User ID: 3677166
United States
04/03/2013 02:49 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


what is the definition of insanity? doing the same thing, the same way over and over again and expecting a different outcome...

insane...
 Quoting: davvi


But the end result is what he's after...the more the government steps in and bails out the banks or other businesses, the more our country becomes socialized, and the HNIC wins.
 Quoting: BRIEF


I often wonder what the average pol thinks this country will be in 50 years? Majority of them have children and grandchildren, do they not care what kind of country they are leaving for them? Or do they think that their own fame and fortune gained from "serving" in government will be enough for generations of their families to live from?

I don't hate the politician who just works for greed, some people are programed that way, but the moron who votes for them without investigating who they are voting for I wish them a slow and miserable life...
There are three genders in the US, male, female and democrat. Democrat men are not really women, they just act like it.

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Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
davvi

User ID: 3677166
United States
04/03/2013 02:51 PM

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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


Obama was an attorney for ACORN in Chicago where they forced (I think it was CITI bank) to make bad loans. The whole housing mess basically started there and with Obamas involvement. Research it yourself unless it has been scrubbed.
 Quoting: anonimalle


Excellent! I didn't know that. I thought or I should say assumed it was somewhere in New England where it all began. I figured Dodd and Frank were raping some bank over there.
There are three genders in the US, male, female and democrat. Democrat men are not really women, they just act like it.

I never give RED karma, only GREEN for great posters. If you give me red or green please leave your name, I like to say thank you...

Leftist Jews create anti-Semitism.


Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
Anonymous Coward
User ID: 24537404
United States
04/04/2013 05:43 PM
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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


The housing collapse in the U.S and subsequent economic tsunami wasn't caused by people not paying their mortgages all on its own....

It was caused by the banks fraudulently offering those weak mortgages as AAA credit while bundling them into derivatives, combined with the predatory lending spree that was happening in the sub-prime loan industry(which was heavily weighted with fly by nights and fraudsters who clearly took advantage of the disadvantaged).

There are still plenty of honest people out there, stop taking cheap shots at the poor to score political points. It is inhumane, and reeks of subservience to the Corporate greed which has fucked the world markets up to begin with.
 Quoting: Anonymous Coward 37363139


A small but significant correction: it was caused by the RATING AGENCIES rating these "super-senior" bundles as AAA. Of course if I am selling a super-senior tranches and I am allowed to sell it as AAA, I will take full advantage. It is not my job to police this, as long as I am accurately describing the contents of the bundle and its terms, the rating agency is the one with the responsibility to police it.

Since I am hiring the rating agency to do this, the potential for abuse is plainly obvious. It's a fucking joke, a bad one. The system was set up to fail, and surprise, it did.
Anonymous Coward
User ID: 24537404
United States
04/04/2013 05:46 PM
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Re: Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
Good grief, didn't these idiots learn anything from the last housing credit debacle?


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.

John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

[link to www.washingtonpost.com]
 Quoting: mathetes


Obama was an attorney for ACORN in Chicago where they forced (I think it was CITI bank) to make bad loans. The whole housing mess basically started there and with Obamas involvement. Research it yourself unless it has been scrubbed.
 Quoting: anonimalle


Excellent! I didn't know that. I thought or I should say assumed it was somewhere in New England where it all began. I figured Dodd and Frank were raping some bank over there.
 Quoting: davvi


Dodd from CT and Frank from MA surely are doing so, Dodd just "retired" from the Senate because his involvements were becoming obvious.

So Obama is starting another housing bubble. Does this one have 8 or 10 years now to run? Enough time for my kids to graduate from the school district here and sell this house ...

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