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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (150813)	1/2/2009 1:24:24 PM
From: geode00	Read Replies (1) \| Respond to of 173976

No, lending TOO MUCH MONEY to the borrower or lending ANY MONEY to some borrowers is the problem. That is how microloans work out so well with a very small default rate and how prime mortgages are going belly up. It is also why, before the bailout, suppliers were demanding COD from GM. You don't understand risk or lending. From YOUR SOURCE: "Fannie Mae was giving 53 percent of its total $1.3 million in contributions to Republicans, who controlled Congress at that time. This cycle, with Democrats in control, they've reversed course, giving the party 56 percent of their total $1.1 million in contributions. Similarly, Freddie Mac has given 53 percent of its $555,700 in contributions to Democrats this cycle, compared to the 44 percent it gave during 2006." Are you actually paying any attention?

To: Brumar89 who wrote (150813)	1/2/2009 1:47:27 PM
From: one_less	2 Recommendations Respond to of 173976

What! who's reckless idea was that? Oh yeah, it was clinton's. "Lending a lot to higher risk borrowers is a bigger problem. And thats what the government was coercing lenders to do." The Clinton Housing bill —“The National Homeownership Strategy: Partners in the American Dream”...excerpt>>> "For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."