Monthly Archives: January, 2016

“Alternative Loans” (aka Subprime Mortgages) Strike Again.

You have to be kidding!  It appears that, having learned nothing form the “subprime mortgage” fiasco except that you do have to use different language to sneak the same nonsense through a second time, we appear to be about to watch Subprime Mortgage II: The Alternative Loan Escapade.

Read about it

Obamanomics in Catastrophic Action.

It only takes two paragraphs to get a good idea of what’s coming, so, for your convenience, start here:

“Remember a few years ago, when the American housing market collapsed as a direct result of government policies that—in the name of racial justice—pressured banks to approve mortgage loans for massive numbers of underqualified nonwhite applicants? Remember how that collapse set in motion the financial crisis that then-presidential candidate Barack Obama repeatedly called “the worst economy since the Great Depression”? And remember how Obama—who had long been a leading proponent of precisely the policies that had triggered the crisis—cast himself as the savior who was going to restore fiscal sanity and untangle the whole big mess?

“Well, now Savior Obama and his White House are excitedly introducing Americans to their latest brainchild, the “HomeReady” mortgage program—offered through Fannie Mae and designed to help borrowers in “low-income” and “high-minority” census tracts. “For the first time,” boasts Fannie Mae, “income from a non-borrower household member [e.g., a roommate or family member] can be considered to determine an applicable debt-to-income ratio for the loan.” And if those combined incomes aren’t enough to qualify an applicant for a mortgage loan, HomeReady comes with additional built-in “flexibilities” like “allowing income from non-occupant borrowers, such as parents.” In other words, just keep rounding up everyone you know, until you can scrape together a 3% down payment and show a combined income that’s high enough to qualify for an individual loan. This makes the slipshod lending standards that caused the crisis of 2008 look exacting by comparison.

I was going to say that I’d bring the popcorn, but I think my appetite just died.

The Hold Law Enforcement Accountable Bill

If a member of law enforcement exercises the option to reduce the sentence (during sentencing or while a convicted criminal is serving time) of an incarcerated individual, and that individual harms any person or persons during the period that he or she could and should have been incarcerated, then the harmed individual shall have recourse to bring suit for damages against the law enforcement official who recommended, approved or made possible the early release of the offender.  Similar recourse shall be available to anyone harmed by an individual who should have been retained by a state or local authority for any immigration violation, but who was released as a result of that state’s or locality’s established practice of noncompliance with federal immigration law, whether that practice is formally announced or not.

For this one, thanks and tip of hat to Louis Meyers at Facebook.

The New Legislation Control Bill

When the only tool you have is a hammer, they say, every problem starts to look like a nail. When the only tool you have is legislation, every problem starts to look like a new bill to pass. We have to find a way to limit both houses of Congress so that they are not allowed to propose new legislation on an activity unless and until they see to it that current legislation addressing the same general topic is being fully and effectively enforced. Congress, both houses, loves nothing more than to pass yet another bill, giving it some snazzy name (almost never indicative of the actual effect of the bill) so that the members can return home and crow about passing this or that bill.

Look where it has gotten us. Both house will fight this initiative tooth and nail, if I read the character of Senators and Representatives correctly.

Action Items – Week 1

Restore bust of Winston Churchill to Oval Office.

Get list of dismissed or retired military officers since 2004. Identify position on “minimal effort” approach to The Islamic State.

Compile list of infractions of federal law by department heads since 2000.

Compile list of Executive Orders since 2000.

Compile list of sanctuary cities and officials who do not comply with federal law re immigration.

Compile list of heads of state to visit re strategy for countering Islamic Jihad.

Put employers on notice that enforcement of restrictions on hiring illegal aliens will be reinstated.

Clarify support for law enforcement officers: Presumption of innocence is the rule. There will be zero tolerance for criminality by law enforcement officers.

Instruct web masters for government and military sites to make the American flag prominent in a tasteful manner on all websites.

Begin exploration of how to dial back all immigration, pending figuring out how to handle at least some elements of it properly.

Set up investigation to determine whether there is a legal way to prohibit organizations receiving state or federal funds from contributing any funds to political candidates, campaigns or organizations.

Start seeking Senate and House support for The New Legislation Control Act.

Start investigation of “Alternative Loans” put in place by Mr. Obama Jan 2016, with eye to winding that program down.