Good grief, it’s like they want another financial crisis to happen before the next presidential election. The Obama administration and federal regulators are backing off tighter lending standards put in place after the the last financial crisis. What could possibly go wrong?

The Obama administration and federal regulators are reversing course on some of the biggest postcrisis efforts to tighten mortgage-lending standards amid concern they could snuff out the fledgling housing rebound and dent the economic recovery.

On Tuesday, Mel Watt, the newly installed overseer of Fannie Mae and Freddie Mac, said the mortgage giants should direct their focus toward making more credit available to homeowners, a U-turn from previous directives to pull back from the mortgage market.

In coming weeks, six agencies, including Mr. Watt’s, are expected to finalize new rules for mortgages that are packaged into securities by private investors. Those rules largely abandon earlier proposals requiring larger down payments on mortgages in certain types of mortgage-backed securities.

The steps mark a sharp shift from just a few years ago, when Washington, scarred by the 2008 crisis, pushed to restrict the flow of easy money that fueled the housing bubble and its subsequent bust. Critics of the move to loosen the reins now, including some economists and lenders, worry that regulators could be opening the way for another boom and bust.

Ya think?

http://lonelyconservative.com/2014/05/wh...ding-standards/

Where's this guy been? They have been doing subprime mortgages for over a year now. I have seen them. Not only that, but to move the massive inventory car dealers have been stuck with to make the manufacturer numbers look good, they are doing 87 month car loans and loans to people with really bad credit. Housing and car numbers are being artificially moved.

Every economic indicator being pushed is a fraud because the numbers are being manipulated. The next crash is going to make '08 look like a dream.