President Obama and Democrats in Congress haven't moved to stop subprime lending -- they've just taken it over.
They've created a federal subprime-lending monopoly by seizing control of the financial apparatus -- Fannie Mae, Freddie Mac and the Federal Housing Administration -- and lending 100 percent of the home price to borrowers who can't afford it.
Private lenders can't make these loans -- they need to get paid back.
Read more: Building The Next Subprime Crisis...
They've created a federal subprime-lending monopoly by seizing control of the financial apparatus -- Fannie Mae, Freddie Mac and the Federal Housing Administration -- and lending 100 percent of the home price to borrowers who can't afford it.
Private lenders can't make these loans -- they need to get paid back.
Read more: Building The Next Subprime Crisis...
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