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.

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.

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]

This is the same failure under Clinton that Barney Frank and Chris Dodd pulled.

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.

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.

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.

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.

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.