As for the Obama plea to open the flood gates and repeat history there are a few thoughts that popped up for me
1) Fanniemae is supposed to be getting disolved I thought. SO Who cares about what their CEO has to say. The lemmings that read this outside of our industry just see a well known name and figure it is To be takes as gospel.
2) Bottom of page it says Fannie is having Great quarter. No mention of repaying the monies that were pumped into them when they were failing. WTH if we as business owners did these types of actions we'd be spending time at the Grey bar inn. And bubba would be happy.
3) As for openiong the credit to more risky borrowers, are you Kidding me !! Thats suicide and shows how desperate the curent administration is at getting the economy going. In past years it has been housing that got the economy going but this time is the cause. The country needs to look else where to find a recovery. The ONLY thing we make anymore is debt. We have no manufacturing. IMO we need to close the boarders and manufacture in house