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Thursday, August 11, 2011
WE'VE LEARNED NOTHING?This is sheer genius.
In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator
Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify.
His
proposal was rejected 57-42 on a party-line vote because, as
Senator Chris Dodd (D-Conn) explained, "Passage of such a requirement would restrict home ownership to only those who
can afford it."
I really can't add anything to this.......
2:38 pm | link
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