Economics

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

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