Wednesday, March 25, 2009

Obama puts troublemaker in charge

This is unbelievable. One of the guys most responsible for our financial crisis is being promoted by the Obama Administration

“We created Home Possible Mortgages so more lenders can say ‘Yes’ to more borrowers,” said David Stevens, senior vice president of single family sourcing at Freddie Mac. “Home Possible is what our lenders tell us they need to compete in today’s market: a flexible, easy-to-use mortgage uniting Loan Prospector’s ease and efficiency with exceptionally low-downpayments and flexible credit. Perhaps no other mortgage product launched in recent memory will enable our lenders to reach and help as many additional borrowers as Home Possible.”

See my previous posts on the mortgage collapse/correction:
  • Oct 4, 2008 Where is the defense of free markets?!
  • Nov 21, 2008 Deregulation vs. Fannie & Freddie
  • Feb 21, 2009 Housing Price Decline Not Done Yet
  • Feb 21, 2009 Sowell: Housing Crisis Caused By Government
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