Obama didn't do that because it didn't matter, because the 2009 crisis didn't primarily involve HUD-subsidized mortgages being in arrears He did call on the banks to pause foreclosures, AND THEY DID
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THEY DID PAUSE FORECLOSURES for one month in 2009 while the Obama administration started up a subsidized loan modification program Then the foreclosures started up again Which is what's going to happen with Trump's foreclosure freeze, only *without* the loan mods
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Good God I'm so pissed about this narrative, "Trump just did the most progressive thing ever while Obama did nothing" NO DIPSHIT OBAMA DID THE EXACT SAME THING What Obama didn't do was buy out all the debt and forgive it, which Trump isn't going to fucking do either
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People may remember this as Obama doing nothing because hey it doesn't matter if they put the foreclosures on pause if you still lose your house afterwards PEOPLE ARE STILL GOING TO LOSE THEIR HOUSES AFTERWARDS NOW TOO
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People are drawing this equivalence because they're fucking stupid, because they're eager to score a cheap hot take, and because - as much as they talk about 2009 being the defining event of their generation - they barely remember what actually happened in any detail
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You can call Obama initiatives like the MHAP (Making Homes Affordable Program) and HARP (Homeowner Affordable Refinance Program) cheap half-measures, fine, or even "doing nothing" But they are demonstrably way more ($75 billion more) than Trump did or is going to do
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Yeah, I'm definitely getting really tired of some of these takes. Esp. since he's now holding up a lot of stuff that would make a difference, and is acting more or less in accordance with right wing ideology.
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A state government could stop foreclosures. They could pass a statute today.
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So it doesn't affect private mortgages? Do you know if the state, like say the Governor, can stop mortgages not backed by HUD?
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