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Fools Never Learn

MariansMusings Wrote: Apr 04, 2013 12:18 PM
I was in the housing industry for a half century. Always wondered why we do the same harmful things over and over. Now I understand. Only difference is they aren't waiting until the pain fades from public memory. Guess they think they have succeeded in blaming the other side to the extent no one will notice they are the ones. The sad thing is they are probably right.

Proving that fools never learn, the Obama administration pushes banks to make home loans to people with weaker credit

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.

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking...