William

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oldfatguy
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William
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Politics & Legal > More of the Same!
 

More of the Same!

Here we go again – Like Déjà vu all over – Rep. Barney Frank : Said banks must act to save more homeowners from foreclosure – or face action from Congress. DUH !!! Isn’t this what got us into today’s troubles??? Isn’t this what caused vthe entire real estate meltdown ??? Isn’t this what precipitated our entire economic collapse ???? Banks and mortgage companies where then commanded (threatened) by the exact same – face action by Congress – if they continued to refuse making home loans to people just because they did not have/or never would have the financial capacities to ever repay a home loan!!! Oh, and while we are giving commands and orders to banks, coerce them into making 110% of value loans – with no money down!!! In some ways I do feel sorry for the many mentally challenged people who were entrapped by the DemLib philosophy of a “right to home ownership regardless of personal income or family expenses.” I also in some ways feel sorry for the many bankrupt lending institutions – by Congressional edict they were not allowed to turn down (deny) loan applications, and most importantly, they were no longer allowed to provide advice/suggestions regarding too low of an income and someone’s abilities to repay. But there is one group I do not feel one bit sorry for, the one’s who created our current fiasco, 100% of the blame to – US Congress - Barney Franf and Chris Dodd who got filthier and richer at all our expenses – way to go – keep reelecting them – DemLibs all the way !!!

posted on July 30, 2009 8:41 AM ()

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