Re:How Home Loans Have Changed since 2000
by dragonwriter on Monday August 15, 2016 @07:04PM
(#12294186)
> The unpleasantness in 2008 onward was a conscious decision by the Obama administration to not bail out underwater home owners.
You might be able to make an argument that the unpleasantness in 2009 onward (or, more specifically, late January of 2009 onward) was the fault of some conscious decision of the Obama administration, but as popular as it has been with the Trump campaign recently, pretending that the Obama administration is responsible for things which occurred before his inauguration is indefensible without some kind of strong evidence for the extraordinary claim of retrocausality.
(Also, factually, the administration decided to bail homeowners out in a variety of ways, though perhaps not as direct, universal, and significant of a bailout as some advocates -- myself included -- would have preferred.)
Banks were bailed out. Large businesses were bailed out. Ordinary homeowners caught up in a massive housing bubble, reviled and sent down the river.