Thursday, July 29, 2010

How did Dodd last this long

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fannie Mae and Freddie Mac, Senator Bob Corker (R-Tenn) recently proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained,"passage of such a requirement would restrict home ownership to only those who can afford it."

Really? How un-democratic! And how many times did his constituents re-elect this guy? Oh, how I wish I could stop reading the news...

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