Submitted by IWB, on January 26th, 2016
Clinton said every American should be able to own a home.
He should have said, “Every American should be able to AFFORD a home.” The difference is better jobs could have been provided to afford a home, not looser loans, called “NINJA loans” (No income, no job) that anyone would have known would bust when the ARM rate ballooned in a few years. It was Clinton’s promise to back these loans with government funds that created the NINJAs.
Then we had the “Every American should be able to attend college.” Not should be able to afford college…. government backed loans sent tuition through the roof, even for degrees where there was no job market. Any student could borrow to their heart’s content…. never mind that you’ll never use that degree… you’ll never ge that loan paid off either.
Both were/are scams…
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