Originally Posted by W*GS
Authored by Robert Moon...
Who is Robert Moon?
Yep, real objective and fact-based fella there.
Nice deflection. The point still remains that forcing the banks to provide loans to people with either bad credit or no credit or just plane lousy income and resources was not good for the economy. Is the American dream to own your own home, yes! It's a good dream to have! However you have to be able to buy a place just like anyone else, that is, with the financial ability to take on the loan and pay it off. I agree that minorities, for the most part, did not meet requirements to get loans for whatever reason. However, that's why people go to college, that is, they get better jobs, get better income, build credit and then eventually buy a home. Not vice versa.
Again, this is a bad policy by the fed government. It was initiated by Carter, strengthened by Clinton and it yes, Republicans didn't do anything to stop it.