We always benefit when our leaders learn the lessons of history and then apply them to our current situation.
Barack Obama is such a historian/leader and I admire what I see. He has reached way, way … way, way back into ancient history; all the way back to 2008-2009 and is ready to apply what he learned from that far distant time.
You see, our economy collapsed back then because the government required by law that mortgage bankers lend money for houses to those that could not afford them and could not pay back on the loans. Guess what? Many who couldn’t afford it and many who schemed the system jumped on this bandwagon, and guess what? These junk mortgage loans went bust and you and I were left holding the bag. And worse … we got Barack Hussein Obama as a bonus.
So now I read in the Washington Post Obama administration pushes banks to make home loans to people with weaker credit.
So what can go wrong with this Housing Bubble 2.0? Well, my answer to that daunting question would require me to relive the past 5 years … only worse. I’m not sure I would or could live through that again, how about you?
But you must admit, Mr. Obama has learned the lessons of 2008/9 well and is poised to reapply them.
Don Johnson – April 2013