What Could Possibly Go Wrong ?

HERE WE GO AGAIN: WHITE HOUSE ASKS BANKS TO MAKE LOANS TO BORROWERS WITH ‘WEAKER CREDIT’

 

 

 

” The Obama administration is pushing banks to extend home loans to people with weaker credit, an initiative that the White House says will help fuel the recovery but critics say will lead to the type of conditions that caused the financial crash of 2008.

“President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession,” Zachary A. Goldfarb writes in the Washington Post.

The Obama White House explains that by taking advantage of taxpayer-backed programs that insure home loans from default, banks should be able to provide loans to a greater number of borrowers.

Cautious of the White House’s initiative, banks have secured assurances from housing officials that they won’t be held responsible for government approved borrowers who default on their loans.”

Illustration by Yogi Love

Related articles

• Fools Never Learn (globaleconomicanalysis.blogspot.com)
• White House pushes for home loans to people with weaker credit (stltoday.com)
• White House to Banks: Loan to Those With So-So Credit (newser.com)
• COLLAPSE” Obama Admin Pushes Banks To Make Home Loans To People With Weak Credit (secretsofthefed.com)
• Obama Announces Plan to Mortgage the White House (smartasset.com)
• Obama Administration wants to loosen home loan availability for people with weak credit (pubcit.typepad.com)
• Apparently Learning Nothing from the Fannie Mae-Freddie Mac Disaster, the Obama Administration Wants to Subsidize Banks to Make More Dodgy Loans (danieljmitchell.wordpress.com)
• Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit (financialsurvivalnetwork.com)

 

 

 

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Welcome to the Greek Sideshow

    Here we are shown the Greek crisis for what it is . Hardly the main event …. Much more are their miseries and suffering , self-inflicted though they are , just the opening act for the main event forming up backstage as we speak .

    Yes … We refer to Italy and Spain . Both with their own variety of the same basic tax&spend malady and nary a physician in sight .

    There are lessons here for November should we choose to face the reality of our situation  . With America only baby steps behind the PIIGS , will the electorate become fully aware of the financial cliff rushing towards us , not-withstanding the MSM’s/Dems (oxymoron?) lemming like drive FORWARD …..

“The third and final reason why the relief rally ended so quickly: Greece was the curtain raiser for the European meltdown, but it is ultimately a sideshow. Europe has moved on now; we are worried about Spain and Italy now. The Greek election doesn’t solve any of Europe’s real problems. Greece can and probably will make Europe’s problems worse, but nothing that
happens in Greece can save the euro.
As interest rates on Italian debt passed 6 percent (the crisis threshold) and for Spain they
passed 7 percent (apocalyptic), Europe edged a little closer to the precipice this morning. The
Greek election went as well as could be expected, and better than feared, but Europe’s problems just keep getting worse all the same.”