Thursday, June 19, 2008

Want to buy an overpriced house in Las Vegas? You’re about to! | Redstate

Want to buy an overpriced house in Las Vegas? You’re about to! Redstate:

"Dodd-Frank creates a new $300 billion taxpayer loan guarantee facility
that nearly doubles the size of the Federal Housing Administration (FHA), and
allows mortgage lenders and banks to cherry-pick the worst performing and
riskiest loans in their portfolios and offload them onto the FHA, creating new
loans that shift 100 percent of the liability to the taxpayer."


This is a bad plan.

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