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President Barack Obama is bringing the subprime-mortgage crisis back, fueled by the progressives’ political urge to treat borrowed money loans as a “right” that everyone is “entitled” to get, and by the willingness to dismiss mathematical probability as a racist conspiracy.
The last time liberals ran this mortgage ponzi-scheme, from 1995 to 2007, they almost crashed the financial system of the entire planet. They managed to largely evade responsibility by pinning the blame on their junior partners — the banks, the stock-market and the GOP — and even found political profit in the ensuing panic, so why shouldn’t President Obama not try again?
From Investors Business Daily comes word of what the editors christen “Subprime 2.0”:
The White House is rolling out a new low-income mortgage program that for the first time lets lenders qualify borrowers by counting income from nonborrowers living in the household. What could go wrong?
The HomeReady program is offered through Fannie Mae, which is now controlled by Obama’s old Congressional Black Caucus pal Mel Watt. It replaces the bankrupted mortgage giant’s notorious old subprime program, MyCommunityMortgage.
No worries, though, because Democrats realized the phrase “subprime loan” makes people nervous, so they worked a little Orwellian magic and renamed them “alternative loans.” That’ll fix everything!
read the entire article here:
http://www.breitbart.com/big-government/2016/01/11/easy-mortgages-for-high-risk-immigrants-what-could-go-wrong/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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