Forwarded to me by a friend. Knowing Dodd's history I could believe this.
Merle
" This is sheer genius"
In a bid to stem taxpayer losses for bad loans guaranteed by federal
housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn)
proposed that borrowers be required to make a 5% down payment in order
to qualify. His proposal was rejected 57-42 on a party-line vote
because, as Senator Chris Dodd (D-Conn) explained, "passage of such a
requirement would restrict home ownership to only those who can afford it."
I can't add anything to this.
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