09 March 2012

Live and don't learn

Looks like the Socialist-in-Chief is giving government by Rubiks Cube another couple of violent twists...

In a move reminiscent of a process that led to the housing crisis in 2008, the Federal Housing Administration will insure refinanced mortgages for an estimated 2 million to 3 million borrowers who won't have to submit to the usual validation process.
And what does that mean exactly? I guess it's one of those hopey-changey deals...
Departing from the normal underwriting process, the FHA will insure the mortgages without verifying whether the borrowers hold jobs or receive income.
Ah, yes... trust... AND don't verify.

The mating call of the lunatic left.


Anonymous said...

One of the accepted defintions of insanity is that when you try something and it fails, yet you continue to do the same thing over and over with the expectation that it will eventually succeed you are a few bricks short of a load. Bureaucracies and warmists fit the defintion precisely.

Neo Conservative said...

an extension of the obama policies that triggered the financial crisis & collapse three years ago... and he's gonna double down and do it again?