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“The Obama Administration is proposing to once again put the economy at risk by subsidizing banks to give mortgages to people with poor credit.  Even though we’re still dealing with the economic and fiscal damage caused by the last episode of government housing subsidies!  Brings to mind the famous saying from George Santayana that, ‘Those who cannot remember the past are condemned to repeat it.’  But what’s especially amazing – and distressing – about this latest scheme is that ‘the past’ was only a couple of years ago.”

http://danieljmitchell.wordpress.com/2013/04/03/apparently-learning-nothing-from-the-fannie-mae-freddie-mac-disaster-the-obama-administration-wants-to-subsidize-banks-to-make-more-dodgy-loans/