THE MORE WORDS THEY THROW UP TO HIDE IT
…the more you know it’s just a new tax.
As for “responsibility” for the Socialized Mortgage Meltdown, that lies mainly with politicians, mostly Democrats, though certainly not exclusively. That’s what happens when politicians try to be heroes with Other People’s Money.
And they even want to do it again.
Now here we are with the New York Times story about the Justice Department fighting “bias in lending.” If a banker rules out minority neighborhoods because he thinks they contain too many credit risks, Justice will come down on him like a ton of bricks for “redlining.” If he then makes amends by seeking out low-income minorities, and offers them loans tailored so they can afford them — no-deposit, “pick-a-pay,” etc. — Justice will come down on him like two tons of bricks for “predatory lending.”
Perhaps we should just cease all commercial and municipal activity altogether.
“Mission Accomplished”, Mr. President!