Housing bubble – take two!

What happens when a guy like Obama, hasn’t run anything in his life but his own election campaign, gets to be in charge? This is what happens.

The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

A few years hence the debate will ensue once again on who and what was really responsible for the housing bubble. The Krugman’s of the world will skip back and once again blame Bush even though the seeds of destruction of the Housing Bubble I start with CRA from the Carter administration, easing of housing credit during the early part of Clinton administration and ending with reluctance of Democrats to enforce tighter legislation as Republicans suggested. It is as if we have gone back five years in time.

Of course all this is designed to help the blacks and Hispanics thus ensuring a higher turnout in the 2014 elections.