Archived Having Learned Nothing From 2008, Fannie Mae, Freddie Mac offer home loans for 3% down (foxbusiness.com)
submitted ago by daskapitalist
Posted by: daskapitalist
Posting time: 2.3 years ago on
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Archived on: 11/14/2018 10:00:00 AM
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25 upvotes, 1 downvotes (96% upvoted it)
Archived Having Learned Nothing From 2008, Fannie Mae, Freddie Mac offer home loans for 3% down (foxbusiness.com)
submitted ago by daskapitalist
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[–] 13652819? 0 points 1 point 1 point (+1|-0) ago
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.
[–] Thisismyvoatusername 0 points 1 point 1 point (+1|-0) ago
That is sugar coating what they did, too. They threatened to sue people who didn’t give bad loans (the stick) and established a government backed insurance market (Freddie Mac and Fanny Mae) which incneitivized peole, to give out bad loans and then sell them (the carrot). There is just no excuse for what the government has done.