Oh, contrair. Have you been following the news? It sounds like the Obama Administration is pushing for some relaxed lending rules to help spur the mortgage and residential realestate market. Sound familiar?
Specifically, they want fairness and have suggested that banks are discriminating against "low income" and "minority neighborhoods". Now does it sound familiar? No?
How about this. Freddie and Fannie will assume high risk mortgages under a special program if they can pass legislation to encourage banks to take higher rists? What about now?
We may be too stupid to govern ourselves as a nation anymore. We never learn.
Obama will guarantee that any gains in the past 4 years will be nullified with perpetual stupidity.
Didn’t Bernanke just say last week, that there seems to be a problem with lower percentages of minority mortgage applicants being approved for mortgages, so they need to take a look at how to make mortgages more easily available to minority applicants. (?)