David Dayen, a frighteningly intelligent individual and one of the netroots’ resident experts on mortgage fraud and housing policy, has 20 questions about President Obama’s agenda on housing policy. They’re all notable and excellent, yes, but allow me to highlight a few for your erudition:

5. Why do you continually distinguish between what you call “responsible” and “irresponsible” homeowners (your fact sheet on the second-term housing agenda references “responsible” borrowers 10 times)? Do you use the same language to single out “irresponsible” welfare or food stamp recipients or natural disaster victims? Isn’t it the job of the lender to check a borrower’s credit-worthiness, and subsequently how “responsible” their decision is to take out the loan? Haven’t banks admitted to preying on communities with low incomes and poor financial literacy, steering them into risky, higher-cost loans? Why aren’t you talking about “irresponsible” banks?

6. Your Consumer Financial Protection Bureau says that banks are still steering borrowers into riskier, higher-cost loans. How is this still happening?

Lending is supposed to entail risk. Lenders, consequently, are expected to be judicious when issuing loans. And yet, if the government chooses to only protect “responsible” borrowers, what motivation do lenders have to fix the problem that got us into this mess in the first place?

Of course, coming last but no less valuable is question 20:

20. Ultimately, your plan would preserve the 30-year fixed-rate mortgage, and what economist Adam Posen calls “the cult of homeownership.” Should we rethink the value of homeownership as a wealth-building tool, because it burdens Americans with more risks than rewards, and because new research shows that rises in homeownership accompany rises in the unemployment rate? Should we reconsider ways in which we subsidize homeownership, like with the mortgage interest deduction? Should we provide incentives for saving that aren’t tied up in volatile home equity?

This brings me to the reasons why I’m here. As you may know, Mister Anderson, the building of wealth can be done in two ways: by increasing wages, or by inflating assets. If the objective is, as we claim, to rebuild and preserve the middle class, should we not focus on increasing stable wages, rather than pretend that wealth is being built on paper through risky fluctuations in housing asset prices? Was it not this very system that led us to collapse in the first place? And even if we agree to use housing asset inflation as a wealth-building tool, why not focus on fixing the systematic abuses by the housing finance industry first?

Many questions, and few answers.

 
About the Author

Agent Smith

I am no longer an agent of this system. I am a new man, so to speak. Like you, apparently, free.

45 Responses to David Dayen’s 20 questions for Obama

  1. Miica says:

    Hi s tsui,After reading your cnomemt, I understand why it took you a few weeks to sum up your thoughts while the others simply chuckled as they read the entry and gave responses almost instantly.:)I like all your points because they are so distinct. Nevertheless – >Many of the best reports I’ve read draw conclusions from highly systematic and thorough analyses. “简单就是美” only exists in aesthetics, not in scientific inquiries.L- Yet these good reports can also be succinct and to the point.Let me give you an example and quote some text from the book I’m currently reading (Insanely Great by Steven Levy):”When you start looking at a problem and it seems really simply, with simple solutions, you don’t really understand the complexity of the problem. Your solutions are way over simplified.Then you get into the problem, and you see that it’s really complicated, and you come up with all these convoluted solutions. That’s sort of the middle, and that’s where most people stop…But the really great person will keep on going and find the key, the underlying principle of the problem. And come up with an elegant, really beautiful solution that works.”When the principle applies to analysis reports, I think it’s the third kind of reports that Tony Tsoi’s referring to.

  2. Leif says:

    Hello would you mind stating which blog platform you’re using?
    I’m looking to start my own blog soon but I’m having a hard
    time deciding between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your layout seems different
    then most blogs and I’m looking for something completely unique.
    P.S Sorry for being off-topic but I had to ask!

    My web blog … recipes for vegetarians [Leif]

  3. I constantly spent mmy half an hokur too read this weblog’s articles all
    the time along with a mug oof coffee.

    My web page: clarisonic mia 2 cheap

  4. Nader szałowy post, badawcze wpisy zalecam wszystkim literaturę

  5. Strona świadczy o dobrych wydarzeniach, namawiam do dyskusji

  6. Strona świadczy o interesujących zagadnieniach, zachęcam do rozmowy

  7. more says:

    Piece of writing writing is also a fun, if you know after that you can write
    otuerwise it is difficult to write.

  8. system ivr says:

    Fabuła bliska każdemu, zalecam lekturę

  9. lotto says:

    Ciekawe wpisy, dobra tematyka

  10. Każdy z nas zetknął się z problemem, rekomenduję zaznajomienie się
    z przedmiotem.

  11. Dobre, dobre, dobre rekomenduję każdemu!

  12. Great post. I userd to be checking continuously this blog and I am impressed!
    Extremely helpful info partticularly the closing part :
    ) I take care of such information a lot. I was seeking this certain info for a long time.
    Thank you and best of luck.

  13. http://kerdana.com/

    رحلات عمرة, رحلات عمرة 2014, رحلات تركيا, رحلات شهر العسل,
    حجز تذاكر, رحلات حج, حجز طيران
    شركة كردانه للسياحة والرحلات تعمل فى مجالات
    السياحة الدينية و الداخلية والخارجية وحجز تذاكر
    الطيران مثل رحلات الحج ورحلات العمرة و رحلات تركيا و رحلات الأقصر وأسوان و نوفر جميع الرحلات الداخلية
    والخارجية

  14. Nadzwyczaj wartościowy wpis, polecam ludziom

  15. If you wish for to get a good deal from this article then you
    have to apply such methods to your won weblog.

  16. Szczególnie wartościowy tekst, zalecam ludziom

  17. http://kerdana.com/

    رحلات عمرة, رحلات عمرة 2014, رحلات تركيا, رحلات شهر العسل,
    حجز تذاكر, رحلات حج, حجز طيران
    شركة كردانه للسياحة والرحلات تعمل فى مجالات
    السياحة الدينية و الداخلية والخارجية وحجز تذاكر
    الطيران مثل رحلات الحج ورحلات العمرة و رحلات تركيا و رحلات الأقصر وأسوان و نوفر جميع الرحلات الداخلية
    والخارجية

  18. http://kerdana.com/

    رحلات عمرة, رحلات عمرة 2014, رحلات تركيا, رحلات شهر العسل,
    حجز تذاكر, رحلات حج, حجز طيران
    شركة كردانه للسياحة والرحلات تعمل فى مجالات
    السياحة الدينية و الداخلية والخارجية وحجز تذاكر
    الطيران مثل رحلات الحج ورحلات العمرة و رحلات تركيا و رحلات الأقصر وأسوان و نوفر جميع الرحلات الداخلية

  19. Very good site you have here but I was curious if you knew
    of any user discussion forums that cover the same topics talked about
    in this article? I’d really love to be a part of group where I can get responses from other knowledgeable individuals that share the
    same interest. If you have any suggestions, please
    let me know. Thanks a lot!

  20. Roberta says:

    Overall, Need for Speed Rivals is a joyful, arcade style of racing game that is actually a breath of
    fresh-air when you look at some of the more serious
    racers out there. Having some trouble deciding which would work best on your vehicle.
    I’m not talking only about the eating of physical food.

  21. I blog frequently and I seriously appreciate your
    content. Thhe article has really peaked my interest. I
    am going to take a note of your blog and keep checkijg for new details about oncce
    per week.I opted in for your RSS feed as well.

  22. great publish, very informative. I ponder why the opposite
    specialists of this sector do not understand
    this. You must proceed your writing. I am sure, you have a great readers’ base already!

  23. Imagine what your organization can attain in case you use other
    networking internet sites like Twitter, My – Space, Foursquare, Gowalla and others.

    And if you think about it, people and attention is what we
    are all looking for when we market a business or service.
    Chaos is a state of primal emptiness which is governed by simple and precise laws, but where the outcome is unpredictable and may change greatly with slight variations in starting conditions.

    Also visit my blog … social media plugin wordpress – http://wordpress.org,

  24. Howdy! Would you mind if I share your blog with my myspace group?
    There’s a lot of people that I think would really enjoy your content.
    Please let me know. Thank you

  25. Ahaa, its nice dialogue concerning this piece off writing
    at this place at this webpage, I have read all that, so at this time me
    also comenting here.

  26. Exceptional post however I was wanting to know if you could write a litte
    more on this topic? I’d be very thankful if you could elaborate
    a little bit more. Thanks!

    Feel free to surf to my webpage; http://vitaketonekaufen.de

  27. I know this web page offers quality dependent content and
    additional material, is there any other website which offers these things in quality?

    Feel free to surf to my page: supra cleanse 350

  28. These are truly fantastic ideas in on the topic of blogging.
    You have touched some pleasant factors here. Any way keep up wrinting.

    Have a look at my blog post: testocoreadvancedtrial.co.uk

  29. No matter if some one searches for his vital
    thing, so he/she wants to be available that in detail, thus that thing is maintained over here.

    my web-site; http://musclezx90erfahrungen.de

  30. Stunning quest there. What occurred after? Good luck!

    my web-site – Hatteras Deep Sea Fishing

  31. Amazing blog! Is your theme custom made or did you download it from somewhere?
    A design like yours with a few simple adjustements would really make my blog
    shine. Please let me know where you got your design. Cheers

    Here is my web page granite slabs west palm beach

  32. Great blog! Do you have any tips for aspiring writers?
    I’m planning to start my own blog soon but I’m a little lost on everything.

    Would you advise starting with a free platform like WordPress or
    go for a paid option? There are so many options out there that I’m totally confused ..
    Any suggestions? Bless you!

    my blog … Salah-ad-Din Yusuf ibn-Ayyub

  33. In any case,Burberry polo uk sale, the committed and eager lawn caretaker will always have many exciting sears lawn tractor parts to choose from including rollers and tillers that may prove to be terribly helpful in plowing a vegetable garden and which will also help in building a flower bed and will even prove to be helpful for planting grass seeds.As for the bottom foam rubber you have to replace it from time to time as well since the condom has a cut on the tip. -Goden bass tbmjh pieces-Leath

  34. Remarkable! Its reeally remarkable paragraph, I have got much clear
    idea about from this post.

  35. When some one searches for his vital thing, thus he/she wishes to be available
    that in detail, therefore that thing is maintained over here.

  36. In this disease actually, fat content of the food is not absorbed thus causing malabsorption of fat soluble vitamins also.
    In principle you should always only buy the least processed rice.
    Find more helpful informative articles at our website.

    My page gluten free junk food

  37. I have to thank you for the efforts you’ve put in writing this site.
    I am hoping to view the same high-grade content by you
    later on as well. In fact, your creative writing abilities has
    encouraged me to get my own, personal site now ;)

  38. Nice blog here! Also your site loads up fast! What host are
    you using? Can I get your affiliate link to your host?
    I wish my site loaded up as quickly as yours lol

  39. Nice weblog here! Also your website quite a bit up very fast!
    What web host are you the use of? Can I am getting your associate link for your
    host? I desire my site loaded up as quickly as yours lol

  40. zajrzyj says:

    Spot on with this write-up, I honestly think this
    website needs much more attention. I’ll probably be back again to see more, thanks for the info!

  41. Ivory says:

    Finally i quit my regular job, now i earn decent money
    on-line you should try too, just search in google – bluehand roulette system

  42. I absolutely love your blog and find many of your post’s to be precisely
    what I’m looking for. Would you offer guest writers
    to write content for yourself? I wouldn’t mind publishing a post or elaborating on a
    few of the subjects you write with regards to here.
    Again, awesome blog!

  43. Hanna says:

    I see a lot of interesting articles on your website.
    You have to spend a lot of time writing, i know how
    to save you a lot of time, there is a tool that creates
    unique, google friendly posts in couple of seconds,
    just search in google – k2 unlimited content

  44. Hi there, just became alert to your blog through Google, and found thst it’s truly informative.
    I am going to watch out for brussels. I will appreciate if
    you continue this in future. Many people will be benefited from your
    writing. Cheers!

  45. Hmm it seems like your blog ate my first comment (it was extremely long) so
    I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog.

    I too am an aspiring blog writer but I’m still new to everything.
    Do you have any helpful hints for beginner blog writers? I’d definitely appreciate it.

.tags { display: none; }

Switch to our mobile site