During the financial crisis the Obama administration, which Biden was a part of actually and continues to be ideologically, bailed out the banks by giving money to the banks. They could have given money to debtors in foreclosure. Not doing this was a huge mistake.
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If they had given money to the debtors, we could have still saved the banks, PLUS 1) kept 10 million homeowners from becoming renters 2) saved millions of housing units from decaying into uninhabitability.
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When homeowners were kicked out of their homes, a lot of those structures just rotted. This was a big blow to the US housing stock.
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Activists were calling for the Obama administration to save the banks by bailing out the debtors, but this was never seriously considered by the administration because they couldn’t imagine just giving people in trouble something for nothing. It was stupid and mean.
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Now, we have 3 candidates:
@AndrewYang@ewarren and@BernieSanders who are running at least in part on proposals that explicitly give people something for nothing. It is a very promising change in the national culture.Prikaži ovu nit -
I can’t emphasize enough what a disaster it was to cut out the homeowners in the financial crisis relief package, and how unnecessary it was. If we want leadership to improve, we have to hold administrations accountable, which means anybody but Biden.
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Just in case you want to ruin your morning: https://www.google.com/search?q=how+many+people+lost+their+homes+in+the+financial+crisi&ie=UTF-8&oe=UTF-8&hl=en-us&client=safari …
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This was looked at, considered and rejected by nearly everyone as completely unworkable for many reasons. Who, exactly, would the bail out have been given to? In what amounts? Under what conditions?
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Understand that for every mortgagee behind on payments many many multiples were making their payments - what happens to those loans when government starts cutting checks liberally to home owner falling behind? What are the political ramifications of such a bailout?
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I’m a YIMBY and Bernie fan. Hopefully there are lots more of us
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There r lots of us. YIMBYs + Bernie are organized vehicles for marching to plenty. We name the scorners of human needs and we insist that malign political balances of power hamper real investment and keep millions from living in the sun. Upward to new equilibria!
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Čini se da učitavanje traje već neko vrijeme.
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You’re not required to finish the work, but you’re not free to quit it.
ED