BREAKING: Biden Gang Trying to Create Housing Crisis Like 2008 – More Destruction of America | Joe Hoft

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BREAKING: Biden Gang Trying to Create Housing Crisis Like 2008 – More Destruction of America

Biden is trying to destroy the housing market now for all Americans.  The destruction continues.

In my first book entitled, Falling Eagle – Rising Tigers, I discussed the policies in Asia Pacific countries that were working while at the same time Obama was destroying the US.

I shared this about the housing crisis in 2008:

In his book “The Big Short”, Michael Lewis explains in great detail the factors that led to the financial collapse in 2008.  Individuals with poor credit histories were provided ‘teaser’ loans by financial institutions. These loans had low interest rates or required little or no support for the borrower’s ability to repay the loan.  The loans were then bundled and sold to investors.  Complex financial instruments were created to insure these investments and the rating agencies classified these instruments as high quality without fully appreciating what they were rating. When the borrowers were not able to repay their loans, the whole system crashed.[i]

[i] Michael Lewis, (2010). The Big Short. London: Penguin Books.

It looks like Biden/Obama want to do it all over again.  The Biden gang issued an order late last week that puts pressure on banks to approve mortgages of illegal aliens whether they qualify for the loan or not.

Biden has no clue what he and Obama are doing.

The Biden Administration is cautioning financial institutions against using an individual’s immigration status in credit applications.

“Fair access to credit is crucially important for building wealth and strengthening household financial stability,” Rohit Chopra, CFPB director, said.

“The CFPB will not allow companies to use immigration status as an excuse for illegal discrimination.”

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