First Obama Phones, Now Obama Loans

Townhall.com ^ | February 16, 2016 | Brian McNicoll

[Glad2bnuts]

There was not a problem with the sub-prime mortgage, it was a stalking horse. The Fed loaned or gave out 27 Trillion to foreign banks and other assorted “good guys” to fix the problem, and they could have paid for every mortgage in America times 3. They didn’t, the country went along just fine, it was a scam.

[Elsie]

What’s the problem here?

The government does a really good job at getting student loans repaid.

[Elsie]

KFC is!

[Elsie]

...and they could have paid for every mortgage in America times 3.

Oh?

This seems mathematically impossible.

[Nailbiter]

‘rats seem incapable of learning from history

They have learned from history- just keep destroying more industries by first regulating all to hell- then forcing them to go against regulations- then vilify them when the actions cause havoc

[momincombatboots]

I couldn't absorb this after the long workday.. Thanks for posting.. Banks might do it if the government provides enough incentives. But if it was a natural way for them to go, they would be doing it now. . So a payday loan at the post office? Maybe I am still having a hard time absorbing it.

[LoneStar42]

Monetization, bundling and resale is where it went off the rails.

[Glad2bnuts]

The estimated amount owed on mortgages at the time was 9 Trillion. They spent or gave away 27 Trillion, is that not 3 times what it would have taken to pay off all mortgages in America?

[Elsie]

I see the numbers, but it boggles me.

I know the amount I’m paying per year on my mortgage and how much I’m paying in taxes.

Seems like the gummint (think Bernie Sanders) could pass a law paying off my mortgage easier than I can make payments.

Must be some kind of sleight-of-hand going on.

[Glad2bnuts]

The excrement hitting the rotating blade may be larger than the worst we could possibly imagine after this joker leaves office.

[Elsie]

I think you may have hit the nail on the head!