Posted by
ApolloSpeaks on Monday, July 18, 2011 7:22:07 AM
Subprime loans are springing back to life. In what appears to be a desperate reelection move by Barack Obama to stimulate the sluggish economy and collapsing housing market Eric Holder (under the guise of racial justice, civil rights and fairness) is forcing community banks to lower their lending standards and make bad loans available to uncreditworthy minorities wanting homes-you know the one's being exploited by the greedy rich and deserve large portions of their wealth. It's Bill Clinton's reckless and destructive subprime loan program (aka National Homeownership Strategy) all over again. You know the program that generated 18 million government required HUD mortgages to people who couldn't afford them (see), and underlied the financial/housing crash that clinched the 08 election for Obama (a dark day in US history).
Given Obama's lust for power and invincible narcissism winning reelection takes precedence over everything-even if that means setting in motion another housing crash down the road costing billions and hurting millions including the poor. The end not only justifies but excuses the means for this despicable, shameless, irresponsible man who clings to his un-American vision of Europeanizing this country into a super entitlement state whatever the cost. If a phony housing boom can get him reelected, so he can continue his freedom destroying agenda, Obama cares squat about the consequences however far reaching and catastrophic. Crises and catastrophies mean more government spending, intervention and dependenecy, a good thing in Obama's collectivist ideology. As the last crash occurred under a Republican President (seven years after Clinton retired) the next one could strike Obama's successor once he's left office. The next President, Wall Street, the banks, capitalism, everyone but Obama would get the blame. What a sick, twisted, wicked game this unconscionable man is playing with his power. Clinton at least believed he was doing good and benefiting the poor by getting them loans; he had no inkling about the disaster he was starting. Obama and Holder know better and don't give a damn. It makes me want to scream.