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http://housingstorm.com/2009/10/did-the-fha-make-bad-loans-with-taxpayer-money-to-prop-up-home-prices/

Did the FHA knowingly make bad loans with taxpayer money to prop up the housing prices?

Was it because of political pressure?

Barney Frank says in The New York Times

“I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling too fast. That’s a policy.”

Click the link to read the whole story.

Renting in Mass · Posted: Mon Oct 12, 2009 6:34 pm GMT Post subject:

Did the FHA knowingly make bad loans with taxpayer money to prop up the housing prices?

I'm going to go with yes.

I wish the FHA would just implode already. Then when people tell me "Hurf, durf, it's a great time to buy," I'll finally be able to agree with them.