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Friday, May 9, 2008

This wacky liberals and their economics policy

by George Dienhart

The House Financial Services Committee voted 38-26 in favor of $15 billion in loans and grants to local governments to facilitate buying foreclosed homes. The $15 billion is to be dispensed to states according to their percentage of national foreclosures.

So, the Democratic plan is to reduce the foreclosure rate, by giving banks an incentive to foreclose on property? This is from the party of the little guy?