Yes, government intervention was the reason for the financial collapse. Now Obama is trying to blame Wall Street while it was his cronies lead by Dodd, Frank and the Black caucus among others that are to blame.
Great reminder that it is not all “Bush’s fault”.
NOT a desirable goal...except to banks who want to securitize the loans and sell them off and to politicians who want to buy votes from all the new home "owners".
But it takes political courage to state that people who don't have the money don't deserve to own houses.
Excellent! The antidote to the lefties who always seek to alter historical facts because history ALWAYS demonstrates that they are wrong.
Fannie and Freddie used to be risk averse and serve a good purpose.
Stuff like this helped to undermine their good work.
responsible people who follow the rules get the shaft, while funding the lefts fraud.
In order for a socialist state to redistribute property/wealth, it must find and execute ways to get the property into its possession. The mortgage programs of Fannie and Freddie, now that they are fully nationalized institutions, fill the bill. The goal is to get as much private real-estate into govt. hands as soon as possible....then redistribute it at leisure. And so, the exercised tool of wealth and property transfer continues on as this article describes.
The middle class currently has value to socialists as voting instruments and property/wealth holders...when the wealth/property is gone, transferred, perhaps it’s value to socialists as voting instruments will go as well if all this is permitted to happen.