PILOT SPIN
Spin Zone => Spin Zone => Topic started by: JeffDG on April 04, 2016, 07:24:48 AM
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https://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery
Fantastic, let's give loans to people who can't pay them back. Free money works every time...
but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
Obviously these "skeptics" are all racists.
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Waiting for Fauxahontas to chime in on this:
Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.
The plan seems to be: Get banks to give loans that are government insured against default, and at the same time immunize the banks against prosecution for bad loans that the government has to repay...This is the most fantastic plan EVER!
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Waiting for Fauxahontas to chime in on this:
The plan seems to be: Get banks to give loans that are government insured against default, and at the same time immunize the banks against prosecution for bad loans that the government has to repay...This is the most fantastic plan EVER!
It's like Groundhog Day!
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Waiting for Fauxahontas to chime in on this:
The plan seems to be: Get banks to give loans that are government insured against default, and at the same time immunize the banks against prosecution for bad loans that the government has to repay...This is the most fantastic plan EVER!
Unfortunately, as hard as he has tried to draw out the recession to clinch his fundamental transformation, it hasn't totally happened yet. So he needs to give the housing market a double-tap to put it out of its misery, and make everyone dependent on FedGov.
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we don't have to worry about this leading to anything bad.
Predatory lending practices caused the last housing bubble/burst. Loaning money to people who can't pay back had nothing to do with it
(yes, this is sarcrasm)
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Waiting for Fauxahontas to chime in on this:
The plan seems to be: Get banks to give loans that are government insured against default, and at the same time immunize the banks against prosecution for bad loans that the government has to repay...This is the most fantastic plan EVER!
This sounds more like a setup for the government to take over the housing industry and federalize all of it. "It's too big to fail".
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There is nothing new under the sun.
We do not, as a collective species, seem to learn from our past mistakes.
Heading to transporter room. ENERGIZE!
Wait ... is there a better planet?
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On his way out the door, President Obama has to repay all the corporations that poured billions into his two campaigns, and it has to be with other people's money.
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There is nothing new under the sun.
We do not, as a collective species, seem to learn from our past mistakes.
Heading to transporter room. ENERGIZE!
Wait ... is there a better planet?
Rigel IV.
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Rigel IV.
Gully Foyle "jaunts" to Rigel ... but I fear he would be consumed by heat even greater than the hellfires generated by the 2016 election.
Must read!
https://en.wikipedia.org/wiki/The_Stars_My_Destination
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Rigel IV.
Drop me off at Risa please.
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There is nothing new under the sun.
We do not, as a collective species, seem to learn from our past mistakes.
Heading to transporter room. ENERGIZE!
Wait ... is there a better planet?
"The optimist proclaims that we live in the best of all possible worlds; and the pessimist fears this is true." - James Branch Cabell (https://en.wikiquote.org/wiki/James_Branch_Cabell)