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Is D.C. incapable of learning a lesson from experience, or just unwilling to learn?

 

Obama administration pushes banks to make home loans to people with weaker credit

 

The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

 

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

 

 

banging head into wall

 

 

 
QuinnMae

Asked by QuinnMae at 9:23 AM on Apr. 3, 2013 in Politics & Current Events

Level 47 (279,468 Credits)
This question is closed.
Answers (4)
  • Same song, another verse. A little bit louder and a little bit worse.

    They're going to add another layer to the mess. Typical.
    Ballad

    Answer by Ballad at 11:55 AM on Apr. 3, 2013

  • That should work out splendidly.
    Izsarejman

    Answer by Izsarejman at 11:58 AM on Apr. 3, 2013

  • Is this a trick question?

    I vote for choice (C) all the above.
    29again

    Answer by 29again at 9:50 AM on Apr. 3, 2013

  • Oh good lord above...why do we have stupid people? Especially the ones in our govt?? *smh*
    Michigan-Mom74

    Answer by Michigan-Mom74 at 8:18 PM on Apr. 3, 2013

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