I agree with you. It has taken over a decade and trillions of tax payer dollars to clean up the sub-prime mortgage mess of 2008. It is a really bad solution to stimulate the economy with a plan doomed to failure. We don't need to open that Pandora's box again. Would any rational X reader lend his own money to a total stranger knowing that they will probably default on the debt? Let the market solve this problem not DC bureaucrats looking for a quick political fix. New lending standards were put in place after 2008 to prevent a repeat performance. Let's stick with the current rational lending standards for federal guaranteed loans and let the borrower go to private lenders if they cant qualify.
I agree with you. It has taken over a decade and trillions of tax payer dollars to clean up the sub-prime mortgage mess of 2008. It is a really bad solution to stimulate the economy with a plan doomed to failure. We don't need to open that Pandora's box again. Would any rational X reader lend his own money to a total stranger knowing that they will probably default on the debt? Let the market solve this problem not DC bureaucrats looking for a quick political fix. New lending standards were put in place after 2008 to prevent a repeat performance. Let's stick with the current rational lending standards for federal guaranteed loans and let the borrower go to private lenders if they cant qualify.