Links and Minifeatures 2008 05 19 Monday

By Dan Melson on May 19, 2008 5:30 PM | Permalink | Comments (0)

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Fannie Mae scraps higher downpayment requirements

The government-sponsored mortgage finance company said Friday it will require minimum down payments of between 3 percent and 5 percent for all loans that it guarantees. That replaces a December policy that required a higher minimum if the loan was for a home in a zip code with declining real estate prices.

This was a comparatively minor factor, as the problems aren't primarily with Fannie and Freddie but rather individual lender policy, but is still good news.

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The Myth of the RINO (and DINO).

Note how the voting records of the three remaining candidates sit during all of the polarizing movement.

(Personally, I think John McCain is the closest thing to a conservative candidate that the Republicans will have nominated since Ronald Reagan, but considering the predecessors - Dole and the two Bushes - that hardly makes him a right winger. Obama, on the other hand, has the most left-wing record in the US Senate)

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Our current president gets one right: Bush says he won't back bill that bails out lenders

"Laws shouldn't bail out lenders," Bush said after getting an economic update from Treasury Secretary Henry Paulson. "Laws shouldn't help speculators. The government ought to be helping creditworthy people stay in their homes."

President Bush been a disaster for the federal budget (a major reason I do not consider him anything like a conservative), but it's good to know there are some limits as to how far he will go.

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