edthecynic
Censored for Cynicism
- Oct 20, 2008
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Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.Why did the economy crash in 2007?
Because a bunch of retards bought shit they couldn't afford.
And why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
Bush was no Democrat! Bush owns the housing crash!