Dear readers, for family reasons I have been away for a while. This is the first of several thoughts that I'll add to this site, some of which are a few weeks old but are compelling enough to be expressed.
Breaking News Alert: Obama administration proposes higher fees, down payments for homebuyers; replacing Fannie Mae, Freddie Mac
February 11, 2011 8:35:09 AM Washington Post
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The Obama administration on Friday proposed raising fees for borrowers and requiring large down payments for mortgages in an effort to reduce the government's outsize footprint in the housing market.
It also proposed three options for eliminating Fannie Mae and Freddie Mac, but warned that abolishing the mortgage giants without replacing them could have "particularly acute costs in its potential impact on access to credit for many Americans."
Well can you imagine that! After 33 years, a politician finally gets the credit for pulling his head out of his butt long enough to do the right thing and get rid of Jimmy Carter's 1978 CRA law that began the erosion at the foundations of our economy, an erosion so insidious that it nearly brought the US to the brink of economic collapse!!!
Reagan, Bush 41, Bubba, and Bush 43 didn’t have the courage to be the one to tell the lower income population, “sorry, but if you can’t afford to make the down payment on a house you will have to rent.” But Obama has finally done it and should get considerable credit for having done so. Hurray!
February 11, 2011 8:35:09 AM Washington Post
----------------------------------------
The Obama administration on Friday proposed raising fees for borrowers and requiring large down payments for mortgages in an effort to reduce the government's outsize footprint in the housing market.
It also proposed three options for eliminating Fannie Mae and Freddie Mac, but warned that abolishing the mortgage giants without replacing them could have "particularly acute costs in its potential impact on access to credit for many Americans."
Well can you imagine that! After 33 years, a politician finally gets the credit for pulling his head out of his butt long enough to do the right thing and get rid of Jimmy Carter's 1978 CRA law that began the erosion at the foundations of our economy, an erosion so insidious that it nearly brought the US to the brink of economic collapse!!!
Reagan, Bush 41, Bubba, and Bush 43 didn’t have the courage to be the one to tell the lower income population, “sorry, but if you can’t afford to make the down payment on a house you will have to rent.” But Obama has finally done it and should get considerable credit for having done so. Hurray!
But even though Obama the liberal was the one to tie the bell around the cat's neck, don't you think it's interesting how little press was given to the story by the liberal media and also that the story broke quietly on the end of the work week, Friday, with no fanfare? I have the feeling that I am the only one who noticed.
Nevertheless, it's poetic that Carter, a stupid, bigoted old man, lived long enough to see his disastrous CRA effectively eliminated by Obama, a black man.
Nevertheless, it's poetic that Carter, a stupid, bigoted old man, lived long enough to see his disastrous CRA effectively eliminated by Obama, a black man.
Albiwan..
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