Because one subprime mortgage collapse is never enough.
Isn’t this the crap that got us in this mess in the first place? Thanks DemocRATS! Once is never enough! Right?
Spin, spin, spin, spin, spin. Spin until you are dizzy and sick. There is no "housing rebound." The entire economy never left the toilet due to Obama loading taxes and regulations onto it, and the suffocating debt that he and Bush loaded onto it.
There is no solution to our international financial crisis. Any real solutions will involve austerity (like thes mortgage restrictions). But they are met with anger from the people, as in Greece and Spain. So they back off.
This leaves the only voluntary solution to be monetizing any debt. i.e. inflation which, due to the size of the problem, will slide into hyper-inflation.
Everything is already getting more expensive, but it will get progressively worse. Imagine where we would be if the fracking boom had not happened.
“The only useful banking innovation was the invention of the ATM.” - former Fed Chairman Paul Volcker (1979-1987)
Only Fed Chairman I admire and agree with. I stand with him and Milton Friedman on the issue of financial markets.
Lather. Rinse. Repeat.
Stupidity is doing the same thing over and over and expecting a different result.
We’ve been down this road at least twice so far.
Wait, let me guess... the Democrats are saying, “Yes, but this time it will be different.”
Maybe some of the lower income people who had their lives wrecked by this foolishness in the past can testify as to the madness of this.
Cat's out of the bag as far as the quality of mortgage-backed securities based more upon social engineering goals than sound investment criteria, Mr. Watt. Therefore, this will not work with private investors, who have already been burned. It will merely create more bad paper, and guess who ultimately buys it.
For those who are able to do so, at least this ill-advised new bout of easy money should provide an opportunity to get out from under a mortgage in an area or type of residence that no longer works for you. Sell, get to a lower cost of living area. If you're in an expensive market take your equity and buy a small house with productive acreage in a cheap market free and clear.
They need to keep the merry-go-round spinning and I understand why, but I don't recommend being on it. Here's your chance to get off, if you're so inclined.
The housing market is dead.
Huge college loans
No jobs, other than part-time
But, hey, the rental market sure is hot. We have arrived at Obamaville.
WHAT economic recovery? Is the libtard media STILL not willing to admit there is none ?
1) Lots of cheap unqualified lending.
2) No jobs to pay the loan back.
3) Obamacare making part time jobs because of the 40 hour a week penalty.
4) Dollar devaluation
5) Globull Climate change ..heh kidding
6) Miley Cirus losing her twerk maneuver..heh serious
7) Hilary brain damage
8) Too many Sinkholes, potholes, and a..holes
9) SriRacha owner says government is worse than VietKong!
10) Pocohontas (aka Elizabeth Warren) is applying war paint to those indigenous high cheek bones.
Put all ingredients in plastic bag, Shake then Bake!
Prepareing for the huge wave of illegals to qualify for home loans.