This is the crap that screwed with the market and got us where we are today:
But remember, you aren’t someone with common sense if you criticize forcing businesses to give loans to people who have no means of paying them back. Your a racist.
And who was a huge proponent behind pushing these sub-prime high risk loans?
“Sub-prime lending started off as a good idea – helping Americans buy homes who previously couldn’t afford to.” -Barack Obama
This is a summary of a typical progressive idea. Giving away money sure sounded good, and it felt really really good – but, gee wilikers – it just ended up making zero financial or logical sense. Now it has caused a global financial disaster. Oh well – at least it was well intentioned…
By contrast – conservative ideas are never well intentioned – even if they somehow miraculously end up making sense and doing something good. More here.
It is never a ‘good idea’ to force banks – through government – to give out loans to people who have no means to pay them back. I know it sounds nice, and is politically expedient to get everyone into homes – rich and poor, but the fact of the matter is – sometimes you have to get a steady job and save up for a bit before you can prove you are fit to take on debt.
By the way – who is this ACORN? ACORN stands for: Association of Community Organizations for Reform Now. Did you get that? They are “Community Organizers.” They are also currently under investigation for committing voter fraud in a dozen states. (Here they bribed some kid with cash and cigarets to register 72 times to vote) Man – and you will never ever in-a-million-years guess who has huge ties to ACORN. I’ll give you a hint – it’s a guy who people are about to elect as President of the United States of America: