BOA Wants More Mortgages Given To People Who Can’t Afford Them

How insane is this?  You would’ve thought they would’ve learned from the 2009 meltdown that giving mortgages to people who probably can’t afford them is a bad idea.  Nope.  They want to do more, and undoubtedly when it fails they will definitely be seeking more government bailouts.

“So our goal, going back to regulatory reform, is should you move the down payment requirement from 20% to 10%?”

Source: Mortgage Crisis 2.0: BofA CEO Wants To Slash Down Payments To Help Poor Millennials | Zero Hedge

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s