Obama administration pushes banks to make home loans to people with weaker credit

[caseymoz]

78. Really? We can't?

We found $700 billion dollars for TARP (which should have gone to bail our homeowners) and between $3.2-$4 trillion in the wars in Iraq and Afghanistan. Meanwhile, we "managed" the Bush tax cuts for another half trillion. That's about $4.5 trillion give or take. Four and a half trillion. That would be 45 million homes at the cost of $100,000. Even if you think that's unrealistically cheap, that's 15 million homes at $300,000 each.

In other words, we find the money when we urgently want to flush it down the toilet. But housing people? We don't have the money.

If we cancel just one useless weapon system for $50 billion, that's $50,000 worth of mortgage subsidy for a million families.

If private interests have the money to loan out, they have the money to tax. I'm not saying that's the policy that should be followed, I'm just using it to illustrate that the revenue can be raised.

Fact is, ultimately we have to find some way to raise and redistribute capital besides capitalism. Compound interest (among other instruments) gives wealth its own force of gravity, where wealth tends to attract more wealth.

About the list of subsidies you've given: apparently, if the government is calling on private industry to step in and do something-- for a price-- then the subsidies are not enough.