What isn’t the purview of the government? Not a thing in Obama’s eyes. From the WaPo:
President Obama has directed a small team of advisers to develop a proposal that would keep the government playing a major role in the nation’s mortgage market, extending a federal loan subsidy for most home buyers, according to people familiar with the matter.
The decision follows the advice of his senior economic and housing advisers, who favor maintaining the government’s role as an insurer of mortgages for most borrowers. The approach could even preserve Fannie Mae and Freddie Mac, the mortgage finance giants owned by the government, although under different names and with significant new constraints, said people knowledgeable about the discussions.
Of course. Keep Fanny and Freddie going at all costs. Obama will need a place to park his former employees in ’12 to keep the leeches going on government salaries, right? The article mentions the “Republican resistance” to the idea. You betcha. With good reason.
More government intrusion à la Obama, speaking to carmakers:
“You can’t just make money on SUVs and trucks,” Obama said during a town hall forum in Cannon Falls, Minn. “There is a place for SUVs and trucks, but as gas prices keep on going up, you have got to understand the market. People are going to try to save money.”
Funny, that, since the Volt still doesn’t sell well. Not that GM isn’t doubling down on stupid since the company doesn’t have to worry about actually competing in the marketplace like others with a continued infusion of taxpayer cash. I’m surprised Obama hasn’t declared profits on SUVs and trucks as a 100% tax to the government. You sell, you pay.
Contrast Obama’s attitude with this one: “I will work every day to make Washington, DC, as inconsequential in your lives as possible.”