While I may not be overjoyed at the level of regulation coming out of the Obama Administration regarding the financial industry, I can fervently say that the people in the mortgage business need to take a big ol’ STFU pill about it. Their criticism of his plan rings on not only deaf ears, but very pissed off ears. Here’s what got me riled up:
Critics in the mortgage industry are denouncing Obama’s plan for government-approved mortgages. Some call it a paternalistic intrusion that would restrict borrowers’ options and make loans harder to get and potentially more expensive.
Guy Cecala, publisher of Inside Mortgage Finance, a trade publication, called the idea “un-American.” He said it would make the U.S. mortgage market heavily regulated, like those of Germany or France, where consumers have fewer options.
“We’re a free-enterprise country,” Cecala said. “We encourage innovation. This is certainly not going to encourage innovation. It will stifle it.”
First of all, the government wouldn’t have to be paternalistic if you hadn’t cause a global financial meltdown fueled by your greed and willingness to fuck everyone out of everything as long as you got to get rich. So, STFU. You have no voice here.
Second, mortgages will be harder to get? Not for people that qualify, they won’t. If you have a good job, you have saved up money and haven’t gone hogwild living above your means on credit cards you will be able to get a house someday. Anybody that tells you that you deserve a house for anything less is lying to you so they can cheat you and everybody else they deal with out of some money. Go home, quit buying shit at the 7-11 to decorate your apartment and save money for a down payment.
Next, “Free Enterprise” talk. Oh, this one really burns my ass. Don’t start a club of rich people sitting around finding ways to drive trucks through loopholes and lobby government to change regulations for the sole purpose of fucking people over and out of the their homes, their retirements, their assets and then when you get caught come back and say that government is socialist and eliminating capitalism. No, bitch…you ruined capitalism.