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[–] 13651060? 0 points 1 point (+1|-0) ago 

Agree that they aren't evil by themselves (I know folks who buy junk houses, restore and sell them using these loans) but they were way over used. The issue before was using them too often for people as the primary loan on their only place of residence based on their possible future ability to refinance/repay (ie: the loan would be too much otherwise so they go this route to get into any loan).

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[–] Thisismyvoatusername ago 

I agree. I mostly just disagree with the government being involved at all. Without it no bank would have ever made too many bad loans. And also those of us who aren’t credit riskswould be free to get our own personalized loans from banks. In the name of helping people, the government screwed up the entire econ9my. It’s just like health care or college education. The federal government needs to get the fuck out of every nook and cranny of our lives.

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[–] 13652819? 0 points 1 point (+1|-0) ago 

In the name of helping people, the government screwed up the entire econ9my.

Government - Give out loans to people who don't qualify or you will be prosecuted for discriminating against minorities.

Banks give out loans.

Government - Why are there so many bad loans? We just don't understand.

.. A few years later.

Government - Give out loans to people who don't qualify or you will be prosecuted for discriminating against minorities.