STUPID?.... OR STUPID???? In a bid to stem taxpayer losses for - TopicsExpress

STUPID?.... OR STUPID???? In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify for a loan. His proposal was rejected 57-42 on a straight party-line vote because, as Senator Chris Dodd (D-Conn) explained, Passage of such a requirement would restrict home ownership to only those who can afford it. I cant add anything to this.

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