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I hope that is a quote from the 90's as that is what help cause the housing bubble burst to begin with. If they have not learned from their mistake, they deserve to be publicly flogged and jailed.
Did they learn anything from their past failures.??? Giving loans to people who can not even cut Thier grass is anther bubble waiting to happen. I wonder how many Democrats are supporting this again like before.
We can all recall Waters, Dodd and Frank that nearly destroyed this country!
These actions won't really hurt the market and did little to hurt the market previously. The three biggest factors that led to the Bubble Bursting
1. Stated Income loans that were initally meant for self-employed borrowers that morphed into flat out lying about income of W2 borrowers to get them approved.
2. No Income Verification Loans.
3. Negative Amortization Option arm loans in which allowed people to make a payment actually lower than the fully indexed rate. The difference would then be added to their Principal Balance.
None of these things are coming back.
Yet. When low down payments don't get the desired results the rest will follow. If you have really good credit a low down payment in itself isn't bad but this is most likely just the first step.
Did they learn anything from their past failures.??? Giving loans to people who can not even cut Thier grass is anther bubble waiting to happen. I wonder how many Democrats are supporting this again like before.
We can all recall Waters, Dodd and Frank that nearly destroyed this country!
Were they a part of the problem? Indeed but they were not alone.
President Bush on Friday promoted his efforts to help Americans, especially minorities, "realize their dreams" of home ownership as he wooed the large Hispanic population of a state he barely lost four years ago.
"We want more people owning their own home in America," Bush said. His goal is to have 5.5 million minority homeowners in the country by the end of the decade.
Because, you know, the housing bubble that burst in the late 2000's was, you know, the fault of Wall Street, not because Fannie and Freddie set the criteria by sponsoring 13 TRILLION in mortgages...
"We want more people owning their own home in America," Bush said. His goal is to have 5.5 million minority homeowners in the country by the end of the decade.[/i]
Did they learn anything from their past failures.??? Giving loans to people who can not even cut Thier grass is anther bubble waiting to happen. I wonder how many Democrats are supporting this again like before.
We can all recall Waters, Dodd and Frank that nearly destroyed this country!
Yep......we drilled water wells for huge new homes.
For prep cooks.......home health care workers......Wal-Mart workers.
Were they a part of the problem? Indeed but they were not alone.
President Bush on Friday promoted his efforts to help Americans, especially minorities, "realize their dreams" of home ownership as he wooed the large Hispanic population of a state he barely lost four years ago.
"We want more people owning their own home in America," Bush said. His goal is to have 5.5 million minority homeowners in the country by the end of the decade.
I don't know which is worse. Probably heading down the same failed path or people refusing to place blame where it belongs. Both parties.
And now Obama is doing the same.
Different sides of the same dirty coin.
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