No. of Recommendations: 5
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

The problem is that our financial system is broken. We have lost the balance between working class opportunities, and opportunities for the ultra-wealthy, so working class people are not advancing and poor people are actually losing ground while the plutocrats are doing really, really well.

Republicans say the answer is to give away even more benefits and opportunities to the ultra-wealthy and cut even more opportunities and benefits to the working class. As clearly idiotic as that plan is, the Republicans managed under Bush-Cheney to move us dramatically in that direction. Even now, they have managed to filibuster, threaten to force the country into default, sequester, and generally throw hissy fits to avoid much movement in a different direction.

But the Obama administration has not been effective at addressing most of the underlying problems either. The bank bailout was clearly a massive shift of wealth in the wrong direction and little has been done since to shift the balance back in the right direction or even to punish the guilty. I'm not sure what the solution is, but I doubt that offering cheap loans to the people who are losing out in this economy is going to help. The bankers have a proven formula now. They'll give money to anyone as long as everyone but them pays for the defaults when they happen. Until we can reverse the decline in working class opportunities and standard of living, then we don't need to invent new loan terms. It might also help if we could start shooting a few bankers. I mean we have all those guns that the NRA won't give up. Maybe they could be put to good use.
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