The 2nd Wave of the Financial Crisis is Here! FHA (Federal Housing Administration) Loans Imploding!

WAKE UP AMERICANS!!!

The Federal Housing Administration (FHA) is the 2nd wave of the housing crisis. The Wall Street Journal article of 11-20-12 (link at the bottom) painfully lays out the numbers and the history of abuse of the FHA by progressive politicians.  The abuse of the housing / mortgage markets is what caused the Financial Crisis and that fact is indisputable, yet the Obama administration has thus far successfully laid that blame on "the failed policies of the previous administration" and the "fat-cat bankers and greedy Wall Streeters." No!

This next paragraph is point #5 in acknowledgements in my book: Skullduggery! True Causes of the Financial Crisis   http://www.skullduggerybook.com/

Five - To all citizens of the U.S. that recognize The Financial Crisis of 2007-2012 was man-made.  This recession was not a normal ebb and flow of financial cycles.  This "worst recession since the Great Depression" was man-made, caused by racial activists, community organizers, three presidents and all their progressive ilk in Congress who cast aside common sense and proven mathematical models that forecast giving (subprime) mortgages to people (black, brown, white or in between) with poor credit, little downpayment and poor job histories would end badly.  My generation, the Baby Boomers, produced a small group of liberal people within the Democratic party that became wealthy, powerful and guilt ridden over their good fortunes.  They sought to level the playing field for those less privileged in life, a very admirable goal on the surface.  The trillion or so dollars that has been spent to shore up the U.S. economy could have literally been given directly to the less fortunate across the U.S. and they would have come out far better and we would not have experienced The Great Recession.  The saddest irony of the progressive Baby Boomers' experiment gone wild is that they hurt most the very people they wanted to help (and the rest of us in the process!).  Rarely do career politicians, activists and community organizers have the business acumen to run the largest corporation in the world - the United States of America and this has once again been proven beyond the shadow of doubt.

Carter, Clinton and Obama - the chief architects of the Financial Crisis... less than 7% of the country knows this...

YOU must know this full story.  Why?  Because history MUST record this correctly.  Otherwise we are doomed to see this repeated, over and over again as long as progressive politicians and presidents view the income and taxes paid by Americans as their piggy bank / dollars to spend on far-left, social justice, spread the wealth around projects.  "Affordable Housing" (subprime loans) were the root cause of the Financial Crisis.  Knowing where all of those shitty mortgages came from and why is to know the truth.

The FHA - Federal Housing Administration - the next $16.3B - $93.7B in FHA insured housing is defaulting NOW (11-20-12 Wall Street Journal).  It was predictable; it was forecast by many economic scholars even while the Obama administration was refuting those claims and ramping up the FHA after Fannie Mae and Freddie Mac imploded.   

Here's the link to that story:

http://online.wsj.com/article/SB10001424127887323551004578119151344157858.html?mod=ITP_opinion_2

WAKE UP PEOPLE!  THE HOUSING / FINANCIAL CRISIS WAS NOT AN ACCIDENT! 

It was the realization of "social justice" we have heard so much about since Obama came on the scene in the 2008 election.