Ann Coulter writes a great column about how our government made sure that unqualified borrowers got a lot of mortgages back in the 1990s and early 2000s. Apparently, the Fed, along with the Treasury during the Clinton administration, insisted that "income sources" such as welfare payments and unemployment benefits be counted as income for the purposes of qualifying for a loan.
And we wonder why a lot of these loans are being defaulted upon. May I suggest that we roll back these unsound lending practices BEFORE we bail out Wall Street?
"A simple declaration of truth" - *From 2006 to 2012, PyroManiacs turned out almost-daily updates from the Post-Evangelical wasteland -- usually to the fear and loathing of more-polite and ...
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