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Because promoting home ownership for those who can afford it results in a healthy middle class and a healthy economy.
Jobs are what results in a healthy middle class and healthy economy. Having a bunch of people trying to buy houses that they cannot afford doesn't do that.
You (hate) the US government helping the poor and middle class to get loans, but you sure love helping America's rich.
You love Mitt Romney's $6.6 trillion dollar "supply side" tax cut for the rich and large corporations, in the following link.
(That whole $6.6 trillion dollars would have been added to our national debt, and financed the building of US factories in China, and you still love it.)
There are no regulations on how to spend republican "supply side" tax cuts. So Americas rich and large corporations can spend their republican tax cuts any way they want.
But like Rush radio and Fox news says "the rich made all the right choices."
To bad Rush radio and Fox news don't say "poor Americans who want home loans made the right choices."
You guys just blow my mind. You have here a bonafied example of YOUR GUY doing something very stupid. Something proven to have been a disaster.... something demanded by LIBERALS and put into law by the Community Reivestment Act and you come here and say this is something conservatives want.
Geez dude, how do you have the guts to do this??????
Please clarify your position: Do you agree or disagree with this deregulation measure? Are you saying we need MORE regulation?
Do you agree, or disagree with these words: Responsibly shrinking the government’s footprint in housing finance over time is important to protecting taxpayer interests. However, we must balance our policy goal of reducing the government’s footprint against the need to preserve access to mortgage credit for creditworthy borrowers.
The problem is that those with ruined credit can't control their spending and they want some 4000 sq ft brand new house so they can impress all their friends.
That is certainly NOT true with any of the people I know with ruined credits, and I know quite a few.
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