Priceless And Brief

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify for a loan.

His proposal was rejected 57-42 on a straight party-line vote because, as Senator Chris Dodd (D-Conn) explained,  Passage of such a requirement would restrict home ownership to only those who can afford it.”

I can’t add anything to this … I just can’t.