Clearly, either our president doesn't learn from history, or he does and he hates America and wants us to fail. I'll let you decide that on your own. Take a look at the article. Here are some of the winning parts of it:
The revamped Home Affordable Refinance Program, which aims to avert foreclosures, is expected "to encourage new, lower-cost loans" to more homeowners who are paying more than the value of their properties, a senior administration official said ahead of Obama's Monday announcement.So we learned from history that you can't force banks to give loans to people who can't pay them, it will backfire. Today, he wants to force banks to give out loans to people who are having trouble paying for them...
The three-year-old Home Affordable Refinance Program was supposed to allow refinancing for up to 125 percent of a home's value on mortgages owned or guaranteed by Fannie Mae or Freddie Mac, but has been stuck on tight eligibility rules, including excluding people with high credit scores or other attractive risk offers.Here we go again. Same plan, different names, different wording, different packaging, but same failed ideas that sunk us already.
The changes to the loan programs are specifically intended to bypass Congress, which is stalled on agreeing to new plans to increase jobs and jump-start the economy. But it won early support from Democratic Sen. Barbara Boxer of California and Republican Sen. Johnny Isakson of Georgia.So, dodging congress. That is the act of a dictator. He might as well say, "What I want is what matters, forget checks and balances." Also, Republicans, take note of the name of a traitor to the cause. Sen. Johnny Isakson, from Georgia, way to go failing the people who voted you into office.
If people aren't outraged by the ego, the arrogance, the Marxist ways of this man, then we have fallen very far indeed from the America which once was so great.