Bend over and spread your cheeks!!!
Wasn’t this clown a big proponent of the Community Reinvestment Act? What an idiot.
“And, while we haven’t quite decided to forgive your college loan debt, just yet... We WILL ignore it as a debt on your mortgage application.”
BS on closing Fannie and Freddie. MORE low downpayment loans, looser credit, etc.
FTA: Making light of criticism from Republicans who have cast him as a big-spending liberal, Obama joked that his calls for deeper private sector involvement “must sound confusing to the folks who call me a socialist.”
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Well it sure confused me.
Please let me know when it is time to go all Kent Brockman and welcome our new overlords.
Maybe they’ve figured out a new way of screwing the person trying to buy a home?
I would keel over if he closed Freddie and Fannie...they are a democrats dream. Its a retirement for numerous democrat and civil rights leaders on the left.
Fannie and Freddie were doing just fine until the Liberal grifters controlled it.
When I first heard this news I was amazed, as I agreed with what I was hearing from Zero.
There must be something he’s not telling us.
I’m waiting on the other shoe to drop, like maybe a whole new regulatory agency to clamp down on private lenders. No way I believe this guy really wants a free market solution.
No Fannie Mae or Freddie Mac employee will lose their job. But the banks will be forced to make high risk loans.
There is the rub. The Gov gets out of the business while "giving the business" to the private sector.
No mention of how the Gov will hold a financial gun to their head.
GE
Bush wanted to do that in 05.
before all the Dems forced mortgage companies to give loans to people with NO credit.
He was called a racist
As long as the mortgage companies have control over who they loan money to I am sure they will like the concept.
But I bet 0dumbo will still try to force them to loan to losers
Whatever the fine print he is proposing, just privatize them and get rid of them before he changes his mind.
Probably more like a mortgage takeover. We keep drifting toward socialism with each passing day that he’s in office.
Something doesn’t add up. Obama wants to get the Government OUT of a major component of the US economy?
Usually when a statist/progressive scheme fails, and Fannie and Freddie failed miserably, the Left’s next option is to double-down or nationalize everything.
What am I missing?
“including winding down government-backed Fannie Mae and Freddie Mac. He declared that taxpayers should never again be left “holding the bag” for the mortgage giants’ bad bets.”
I agree with this. That means either...
A. He’s lying
B. There’s a catch
C. Hell just froze over
D. Some combination of the above
No, I didn’t read the article yet. I’m still recovering from the shock.
yeah, and we oughtta wear propeller beanies that generate electricity.
typical Obama drive-by horsht.