DISQUS

DISQUS Hello! OpenMarket.org is using DISQUS, a powerful comment system, to manage its comments. Learn more.

Community Page

Jump to original thread »
Author

Federal Regulations Helped Spawn Mortgage Crisis

Started by cordblomquist · 10 months ago

Federal “affordable housing” and “diversity” mandates helped spawn the mortgage crisis.  Additional evidence comes from a Washington Post story, which notes that  “even late in the housing bubble, Fannie M ... Continue reading »

2 comments

  • How could this be? Laws did not help the free market? Low-income borrower = someone who could not save for a down payment. This also is someone who is unlikely to make all of his mortgage payments in the future.
  • The economic affirmative action policy put in place during the Clinton administration forced banks to issue "low income (bad) loans." Wealth redistribution was the aim of this liberal policy since wealth would flow from the middle to lower class when the inevitable bailout came due. This has made the middle class poorer and the lower class richer.

    The poor are not poor by accident. They either refuse to be educated, refuse to work hard, or have not been in the country long enough to build wealth. As always, anti-merit liberals favor instant gratification and social engineering by big government.

Add New Comment

Returning? Login