Wednesday, October 17, 2007

I feel good, I knew that I would, now



From the sometimes faulty Wikipedia:
Federal Housing Administration (FHA) is a United States government agency created as part of the National Housing Act of 1934. The goals of this organization are: to improve housing standards and conditions; to provide an adequate home financing system through insurance of mortgage loans; and to stabilize the mortgage market.

During the Great Depression, the banking system failed, causing a drastic decrease in home loans and ownership. At this time, most home mortgages were short-term (three to five years), no amortization, balloon instruments at loan-to-value (LTV) ratios below fifty to sixty percent.[2] The banking crisis of the 1930’s forced all lenders to retrieve due mortgages. Refinancing was not available, and many borrowers, now unemployed, were unable to make mortgage payments. Consequently, many homes were foreclosed, causing the housing market to plummet. Banks collected the loan collateral (foreclosed homes) but the low property values resulted in a relative lack of assets. Because there was little faith in the backing of the U.S. government, few loans were issued and few new homes were purchased.

In 1934, the federal banking system was restructured. The National Housing Act of 1934 was passed and the Federal Housing Administration was created. Its intent was to regulate the rate of interest and the terms of mortgages that it insured. These new lending practices increased the number of people who could afford a down payment on a house and monthly debt service payments on a mortgage, thereby also increasing the size of the market for single-family homes.

Sounds pretty sinister. Why aren't the righties complaining about socialized housing? Shouldn't people who can afford houses buy them, and those that have smaller incomes just rent or, you know, live in shelters? Oh wait, shelters are socialized government housing.

Hey, how about this one:
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. The vast number of bank failures in the Great Depression spurred the United States Congress into creating an institution which would guarantee deposits held by commercial banks, inspired by the Commonwealth of Massachusetts and its Depositors Insurance Fund (DIF). The FDIC provides deposit insurance which currently guarantees checking and savings deposits in member banks up to $100,000 per depositor.

Come on now, how much help do investors need? You put your money in a bank, it's always safe, except for when it isn't.

And of course, that leads to this one:
The United States Securities and Exchange Commission (commonly known as the SEC) is a United States government agency having primary responsibility for enforcing the federal securities laws and regulating the securities industry/stock market. The SEC was created by section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the 1934 Act). In addition to the 1934 Act that created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002 and other statutes.

So I guess it's all about who you help. If you need help with tangible assets, like housing, or money, or roads, or travel, then government management and single-payer organization is mighty fine.

But to try to help with something that seems less tangible like health, which is arguably at the root of all human activities and values, and especially children's health, is promoting a Communist takeover of our lives.

Shallow thinking, shallow values.


Update: Picture added: blogger finally coöperating. This is my daughter Michaelle, and her baby Isabella. Michaelle and her husband Randy both work to even be able to provide insurance and rent. They want another child, but don't really think there's any way they can afford one. They just moved from a 1 bedroom apartment to a 2 bedroom house. I think SCHIP could help them with, you know, Children's Health Insurance.