In response to:

How Obama Enabled Unscrupulous Banks to Foreclose on Innocent Homeowners

RickG_Prov_RI Wrote: Jul 31, 2012 2:30 PM
The Obama administration ordered banks to lend to risky borrowers or face lawsuits. Many people with poor credit bought homes who were clearly risky borrowers. A large number were issued subprime loans they could not afford, ensuring their default. Once the defaults began in 2007, the abandoned homes flooded the housing market, driving down home values for everyone. Who checked this writing? Obama took office 1-20-2009. He's not one of my fan favorites but we can get enough inaccurate reporting elsewhere.
shubi_ Wrote: Jul 31, 2012 2:51 PM
The Democrats created the housing bubble and then Obama did the above. I think the Word Democrats should be substituted for Obama to correct the article.

The epidemic of home foreclosures has been made far worse than necessary due to the banks' unwillingness to work with homeowners. Although Congress has passed numerous laws to force the banks to assist homeowners, the banks have found ways not to comply. The banks also brazenly break other laws to further their profits at the expense of homeowners, most recently by falsifying interest rates in the LIBOR scandal.

Regular middle class Americans everywhere have unjustly lost their homes to foreclosure. They ended up in homes they could not sell due to the Federal Reserve Board, not their own...