Dems want to bring back the subprime housing crisis with loans to the ‘poor’

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Biden wants to slash housing costs for low-income borrowers, and progressives want it done – now. The problem is it will recreate the housing bubble and devastating bank crash.

Only now we don’t have money to bolster failing banks.

We ended up with the problem by bullying banks into giving “poor” people loans they couldn’t pay so they could buy houses they couldn’t afford.

Millions lost their homes and had terrible ratings for years because of the crisis.

Democrats blamed George Bush and the banks for ‘predatory lending,’ but the problem was bad lending practices resulting from policies pushed by Democrats.

Democrats want to do it all again.

Politico reports “President Joe Biden’s move to fire the top U.S. mortgage regulator is triggering calls from fellow Democrats to use the agency to expand access to loans for lower-income people, who have struggled to buy homes since the financial crisis.”

That is exactly what they did before but now we are deeper in debt. Progressives like to control everything and would love to nationalize the housing market.

They know they will clash with Republicans.

Here’s more from Politico:

A long-awaited Supreme Court decision last month gave Biden the ability to remove the Trump-era leader of the Federal Housing Finance Agency, and he wasted no time. The president installed as interim director an agency veteran who says she’ll make affordable housing and combating discrimination a top priority, but who has underwhelmed those on the left, who say she is a mere caretaker.

Progressives are concerned that Biden will be too timid in changing course at the powerful agency overseeing Fannie Mae and Freddie Mac, the two companies that stand behind half of the $11 trillion U.S. mortgage market. Top Democrats are calling on Biden to quickly name a permanent leader — a position that Senate Banking Chair Sherrod Brown’s spokesperson said is “vital to the administration’s goals of building an equitable economy and must be filled quickly.”

The hard-Left progressives demand Biden get it done. His handlers are undoubtedly part of the progressive groups demanding it.


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