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Barack Obama: Sub Prime Mortgages that gave houses to people WHO COULDN'T AFFORD THEM was a GOOD IDEA!!

By David Hinz - Posted on October 4th, 2008
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Even after the Sub Prime Mortgage crisis had begun to unravel, Sen Barack Obama still appeared before the cameras extolling the virtues of providing mortgage loans to people unable to repay them. "Helping Americans buy homes they previously couldn't afford..."

You have to believe the left will want this video to disappear post-haste. Oh, and of course, it points out that the Democratic leadership voted against regulation. And have I mentioned ACORN?

Quote:

A major U.S. bank has funded its first home loans to undocumented Mexican immigrants in San Diego County in a move that targets a lucrative, wide-open market while providing new grist for the debate over illegal immigration.

The local program, which uses tax identification numbers instead of Social Security numbers, is similar to programs run by small lenders – and two state agencies – around the country that have distributed millions of dollars to undocumented immigrants over the past few years.

“There is a huge untapped market out there, but it is a controversial program,” said Sarah Lumbert, office director of San Diego's ACORN Housing Corp., part of a national group working with Citibank to provide tax-ID loans.

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This response is one of the
Submitted by Ken Taylor on Sun, 2008-10-05 07:43.

This response is one of the most telling about what an Obama administration would hold for America. The only reason he even sounded out about the financial debalce is because he was trying to counter having been caught with his fingers in the cookie.

He and his fellow liberal moonbats still see absolutly nothing wrong with the very problem that created this mess through Fannie and Freddie, subprime, 100%, faulty mortgages given to thousands who were known at the inception of the loan as not having the ability to pay it back.

The affordable housing myth created by Democrats which put millions in their pockets and crashed the economy is something they will do again because it is in their nature and their agenda! Obama is a leader in this ridiculous policy!

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