Thursday, May 15, 2014

If It Did Not Work The First Time ....

Maybe they just didn't try hard enough ...

The liberal mind will never admit failure of understanding or ability or admit culpability for unhappy consequences.  The US government enforced mandate that lending institutions lower (or remove) qualifying standards for mortgage lending to low income (read minority) applicants was an unqualified success in the minds of those progressive (read socialist) groups demanding "Fairness".

The success was short lived as the inevitable results came about.
  • Inflated house prices due to artificial push in demand.
  • High percentages of mortgage borrowers who never had a hope of making good on their debt.
  • Extended debt in the form of equity loans (on inflated value of property).
  • Over extension of credit across the board as speculators pushed the market.
  • Over exposure of lenders to bad debt (bad loans, risky investment, over valued properties)
  • Eventual collapse of the housing market and near collapse of the lending and investment market.
  • Near collapse of the US economy and depression of the global economy.
 So what is the US president talking about now? And what are the liberal bobble heads planning?
Well of course they plan to ...  Do more of the same stupid things



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