A failure of capitalism? This could never happen in a country where private property was respected and people were not subsidized by government to buy what they can’t afford.

Rather than saving the American dream, the Obama team could be bringing it to an end.

Star Parker
http://townhall.com/columnists.....eam?page=2

she must be racist

investor’s business daily

“Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans.

A substantial majority of both black and white mortgage loan applicants had their loans approved, but a statistical difference was enough to get a bank sued.

It should also be noted that the same statistical sources from which data on blacks and whites were obtained usually contained data on Asian-Americans as well. But those data on Asian-Americans were almost never mentioned.

Whites were turned down for mortgage loans more often than Asian-Americans. But saying that would undermine the reasoning on which the whole moral melodrama and political crusades were based. ”

So, not only did your gov’t force banks to make bad loans, it picked through the available data to make sure that blacks were given preferential treatment.

It’s the greatest financial crime of all time.

but i’m sure soros and The Moron’s other handlers would prefer it.

Cheek-by-jowl in cookie cutter houses, with unwatered yards, and close to public transportation — the road five feet away.

Hope that we’ll someday be rid of him, that is.

But you will never hear Obama call for tax entities to lower their appraisals to meet the loss in value. You will never hear Obama demand that insurance rates be lowered (the insurance industry contributed handsomely to his campaign). Instead, you will hear that we need to bail out people because they are losing their homes.

And can anyone tell me where the $300 billion that was approved in H.R. 3221 last June went? Nancy Pelosi said it would help over 400,000 home owners, yet there is never any mention of that money or how many it helped.

http://www.speaker.gov/legislation?id=0235

Help 9,000,000, home owners? How many primary homes are owned in a nation of 303,000,000? And what percent are at risk of forclosure?

““Meanwhile, let’s say a person who makes $20,000 per year wants to buy a million-dollar home. Now in that circumstance, the Guaranteed Interest Payment (GIP) doctrine clause in my plan really comes in handy. Under my cap, that person could only be expected to pay $516.67 per month on his or her mortgage, which means he or she would be looking at a very manageable 572-year mortgage at a 0.6 percent interest rate.

“The real message of my plan is that the government is here to help no matter what. If it’s not happening with the denominator, I say let’s fix the numerator.

“Sometimes, stretching your payments out to a point well beyond your lifetime just isn’t enough, though, thanks to the laws of mathematics, although we’re looking into changing them, too. That’s why the GIP doctrine is so important, because it allows us to set individual interest rates at whatever number is required to keep consumers’ payments at 31% of their income.”

If the buggy whip makers had of been smart enough to join the UAW, they would still be making big bucks doing nothing.

The road to hell is paved with good intentions.

http://michellemalkin.com/2009.....president/