“I’ve said before, ninja loans are an extended form of welfare.”
IIRC the Fair Credit Act prohibits credit discrimination on the basis of the applicant’s receipt of public welfare funds. More Dem “do-gooders” at work, turning your 401k into a 101k...
I think welfare recipients were complaining (to Frank, Rangel, et al) that their non-welfare compatriots were buying houses and they couldn’t get ahead so they demanded to be “included”. The rest is history.