Saturday, July 09, 2011

Democrats Learn Nothing From Their Mistakes: A New Push for Subprime Mortgage Lending

Investors Business Daily is reporting a new push for the same insanity that caused the current recession.  The Department of Justice is forcing banks to make bad mortgage loans to minorities with bad credit and no income:
the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination
Many times I have argued with liberals about the causes of this mini-depression we are now suffering through.  They simply reject the overwhelming evidence that the Democrats caused the melt-down with their forced subprime mortgage lending program.  Now the Democrats are right back at it:
Prosecutions have already generated more than $20 million in loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist. An additional 60 banks are under investigation, a DOJ spokeswoman says.
Read it all here.

When it comes to race and finances, Democrats are just plain nuts.  If you like the recession, if you enjoy going without, if you crave poverty, then by all means, vote Democrat.


1 comment:

Always On Watch said...

Are you kidding me???

Sometimes, the madness really gets to me.