When in a Hole, Keep Digging
Our Federal government will bring about the end of this nation, yet:
Federally-underwritten loans for people who haven't proven themselves capable of repaying their debts is nowhere to be found in my copy of the Bill of Rights. I wonder where it is in the copy that the Congress appears to be reading from?
But hey, on the bright side, this means that all of the fraudulent loans that were opened up for illegal aliens are safe and sound, thanks to our Federal tax dollars.
I guess the old American tradition of exporting our local crooks to Washington, D.C. is still alive and well.
NEW YORK (CNNMoney.com) -- Senate Banking Committee leaders said Monday that they have come to a deal on a housing bill that would prevent foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.
A major part of the legislation would allow the Federal Housing Administration to insure $300 billion in new loans for at-risk borrowers if lenders agree to write down loan balances below the appraised value of borrowers' homes.
The deal was struck between the top Democrat and Republican on the Banking Committee: Chairman Christopher Dodd, D-Conn., and Ranking Member Richard Shelby, R-Ala.
Federally-underwritten loans for people who haven't proven themselves capable of repaying their debts is nowhere to be found in my copy of the Bill of Rights. I wonder where it is in the copy that the Congress appears to be reading from?
But hey, on the bright side, this means that all of the fraudulent loans that were opened up for illegal aliens are safe and sound, thanks to our Federal tax dollars.
I guess the old American tradition of exporting our local crooks to Washington, D.C. is still alive and well.
