Are We Starting over with Sub-Prime Loans?

29 May

A very disturbing front page main headline in our local newspaper yesterday.  I don’t remember it exactly, but I think it was:

“Americans still want to own home”

Now, I will admit that I did not buy the paper and read the article.  Nevertheless, just the headline sent a chill down my spine.  Isn’t this where we came in, some 15 years ago, when the government started twisting the arms of lenders to start making sub-prime loans, a form of bullying (um – social engineering) that eventually resulted in property inflation, bad loans, bundling, derivatives, the real estate bubble, and eventually the onset of the Great Recession when the bubble burst?

Do we think that the government is going to start the game all over again?


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