Larry Kudlow blames Congress and low income families for housing crisis

You knew this was coming. I was surprised it took until today! Always someone elses fault when it comes to Republicans.

From Perrspectives.com

Kudlow: It’s time for the Congress, Republicans and Democrats to stop encouraging—exhorting and forcing banks to make low income loans with no documentation. Stop that—literally pushed these lenders to make low income loans

Scarborough: Hold on a second. You cannot blame this on low income people that are getting a house.

Kudlow: I’m not blaming them. Kudlow: Sub prime, sub standard loans were a creature of the US Congress in the 90’s and the 2000’s.

Scarborough: Are you saying that poor people have caused this crisis?

Kudlow: Not poor people. Members of Congress who were rich people. But their Liberal guilt consciences forced banks and lenders to make lousy sub-standard loans and that has to be repealed…not everybody can afford a home, Joe. Some people have to rent.”