So, a good summary of the issues. But it ignores the actual elephant in the room. The punishment of (what are essentially) mostly middle class borrowers, predominantly leaning more conservative, for doing all the right things, is a feature and not a flaw. Just a further extension of the weaponization of government against those who don’t support the regime.
Although the issues are different, in the end the punishment is te same. Palestine OH got ignored because of the political tenor of the people who lived here. Middle class borrowers with good credit scores are being punished for similar reasons.
It would seem at this point that the government has been incentivized to create crises so that, in its response, it can justify its existence and increase its power.
This is what the regime is doing.. destroy america and punish those with good credit. And Hunter did nothing wrong, there is no crisis on the border, you need to continue to get the jab boosters, and the economy is GREAT!
Excellent commentary. This is wrong on so many levels. Classic Marxists wealth redistribution. Will the amounts of the subsidies financially stronger borrowers are forced to give to borrowers with weaker financials grow over time? Nothing this lawless regime does surprises me. It seems like there should be an angle for a successful legal challenge to these penalties. Time will tell.
The only flaw in the above is in seeing actions both now and in 2008, as “flawed.” In fact, these were successes for a left needing minority voters to continue to be dependent on an ever-larger government. Destroying credit ratings of minorities via “liar loans,” etc., was - and remains - a feature, not a bug, for Ds.
We need to stop measuring the actions of the left with the metrics of free, adult people.
I didn’t realize this is already in effect as of May 1. I thought it was something they were proposing.
This is nothing more than another part of “The Great Reparations Act” (GRA). Once one of these loan’s goes bad, Uncle Sam will forgive the debt. Redistribution made simple. They don’t care if it effects “the economy”.
As to the bank that made the loan they are already receiving these monies from US, so money in money out. We are to big to fail.
It might be a good idea to start a bank that just makes these bad loans. I can pay myself millions and when my bank fails US will take me over and tell the people what a bad manager I was. I will not care because I made millions.
So, a good summary of the issues. But it ignores the actual elephant in the room. The punishment of (what are essentially) mostly middle class borrowers, predominantly leaning more conservative, for doing all the right things, is a feature and not a flaw. Just a further extension of the weaponization of government against those who don’t support the regime.
Although the issues are different, in the end the punishment is te same. Palestine OH got ignored because of the political tenor of the people who lived here. Middle class borrowers with good credit scores are being punished for similar reasons.
It would seem at this point that the government has been incentivized to create crises so that, in its response, it can justify its existence and increase its power.
Superb article !
Now ... the Republicans need to put forth a viable Presidential candidate for 2024 to NOT include either of the following two losers:
• Donald J Trump
• Ronald DeSantis
Thank you ver much.
I wouldn't call this industrial policy. It is financial policy attempting to juice the housing market when it is going towards a downturn.
This is what the regime is doing.. destroy america and punish those with good credit. And Hunter did nothing wrong, there is no crisis on the border, you need to continue to get the jab boosters, and the economy is GREAT!
“The LLPA is a no-win program”, that’s the whole point.
Excellent commentary. This is wrong on so many levels. Classic Marxists wealth redistribution. Will the amounts of the subsidies financially stronger borrowers are forced to give to borrowers with weaker financials grow over time? Nothing this lawless regime does surprises me. It seems like there should be an angle for a successful legal challenge to these penalties. Time will tell.
“Such imprudence leads to bank failures and dismal career prospects for sloppy bank managers.”
…and potentially opens up the door for the entrance of a digital currency. Moving to less and less banks.
The only flaw in the above is in seeing actions both now and in 2008, as “flawed.” In fact, these were successes for a left needing minority voters to continue to be dependent on an ever-larger government. Destroying credit ratings of minorities via “liar loans,” etc., was - and remains - a feature, not a bug, for Ds.
We need to stop measuring the actions of the left with the metrics of free, adult people.
Oh Joy, MERS part deux. Rudy went to the memory hole and produced this recap of the Fuckery that went largely unpunished, except where we went after the foreclosure mills for not having standing. https://open.substack.com/pub/rudy/p/mers?r=fnjl&utm_medium=ios&utm_campaign=post
Show me the math and source of the formulation supporting your claim of more than a minor adjustment.
I didn’t realize this is already in effect as of May 1. I thought it was something they were proposing.
This is nothing more than another part of “The Great Reparations Act” (GRA). Once one of these loan’s goes bad, Uncle Sam will forgive the debt. Redistribution made simple. They don’t care if it effects “the economy”.
As to the bank that made the loan they are already receiving these monies from US, so money in money out. We are to big to fail.
It might be a good idea to start a bank that just makes these bad loans. I can pay myself millions and when my bank fails US will take me over and tell the people what a bad manager I was. I will not care because I made millions.
Oh, I forgot I am not the right skin color.
What a great country we live in.
Yawn. A minor adjustment. Trying to make a mountain out of a mole hill. Nothing to see here!