Thursday, June 23, 2016

On Protecting Dodd-Frank, Hillary Should Keep an Eye On Obama

From Hillary Clinton's own "Issues" page, regarding Wall Street, she says this:
Hillary will:
  • Veto Republican efforts to repeal or weaken Dodd-Frank.
  • Tackle dangerous risks in the big banks and elsewhere in the financial system.
  • Hold both individuals and corporations accountable when they break the law.
Well, maybe Hillary should have a talk with her old boss, Barack Obama, about how he's pushing "risks" again in the housing market.  The same risks that caused the housing crisis in the first place.

By going around Dodd-Frank, The President has directed the FHA to force banks to give mortgages to people with substantially less credit worthiness, because Dodd-Frank makes no stipulation about credit scores or minimum down payments.  So, here we are again with the kind of low down payments of just 3% that caused the housing collapse because, once again, a Democrat wants increased home ownership for low income families.  Just like when Bill Clinton was President.  A fact that Hillary Clinton never seems to mention.

I think she should stop worrying about the Republicans weakening Dodd-Frank and worry more about liberals skirting the rules of that law.  In fact, my guess is that she would just follow Obama down that same risky housing lending path should she became President.  Obama and Hillary love to blame Republicans for the housing crisis, but it has always been the Democrats whose hands are bloodied on this one.


Hillary Issues: Wall Street:

Obama administration pushes banks to make home loans to people with weaker credit:

Subprime Mortgages On March Again, As Obama Pressures Easier Lending:

Wells Fargo launches 3% down payment mortgage:


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