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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (434551)11/12/2008 1:00:00 PM
From: Alighieri  Read Replies (2) of 1574369
 
It is Frank and Dodd and the others who are in the pockets of the banks (that would be Obama and Biden) are responsible for the provisions that REQUIRED lenders to make bad loans. Bush didn't do that. That's not to say that Bush couldn't have pushed back against it, but the basic problem is the Obama-esque concept that "everyone is entitled to home ownership". Utterly stupid.

You know what's stupid? Claiming that frank was the only one calling for expanded home ownership and putting that as the cornerstone of the far more complex problem we are facing today.

Al

Expanding Homeownership. The President believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago. President Bush's initiative to dismantle the barriers to homeownership includes:
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