Posted on 05/07/2009 4:33:00 PM PDT by pissant
WASHINGTON, May 7 (Reuters) - President Barack Obama's budget proposal for 2010 would spend $1 billion to endow a new federal fund meant to expand housing opportunities to low-income borrowers.
The Housing Trust Fund was conceived by Rep. Barney Frank, chairman of the House Financial Services Committee, and was supposed to be funded by a tax on mortgage-finance agencies Fannie Mae (FRE.N: Quote, Profile, Research) and Freddie Mac. (FRE.N: Quote, Profile, Research)
(Excerpt) Read more at uk.reuters.com ...
Looks like history is about to repeat itself again thanks to Bawney...
Wow, another program we really need.
Isn’t this what caused the problem in the first place?
I wonder who they lined up to milk this thing before the ink was even dry on the legislation.
Apparently they tote the attitude that enough damage was done the first time around.
This is what caused the housing crash in the first place. Giving people stuff they can’t afford to keep is not doing them any favors.
-—wasn’t-—
“”a new federal fund meant to expand housing opportunities to low-income borrowers. “”
I could have sworn we already did this! Must have been a nightmare..
Key words: "meant to"
Obonics to English translation: "will never happen"
Folks, did anyone else hear the audio on the Rush Limbaugh show the other day where Barney Frank was CRITICIZING those who advocated home ownership for underprivileged instead of rental?????
I almost went off the road. I swear I did. My mouth was hanging open, I could not believe the BRAZEN, OPEN, LYING POS was making it out as if HE was not one of the primary architects of the state we are in!
I was speechless. It is truly 1984, complete with memory holes, operated by the media.
Burn down the frigging place!
Well, I for one am glad he put all expendatures at NASA on hold for this. Look, he saved us 17 billion on the budget!
This is exactly the kind of garbage that got us into this mess. These people literally just do not learn. Obama smoked/snorted too much crack/coke.
People saving money, slows money velocity. Slower money velocity = less tax on that money.
Will this endowment be in lieu of 40 acres and a mule?
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