FHA Mortgage Reform could again be delayed by ridiculous political antics. Who else but a bunch of politicians could take what should be a simple sprucing up of a program which is basically good enough already, needing only to be expanded to include a few more people, and turn it into a multi-year ordeal.

The House of Representatives version of the FHA Reform Bill included a provision for a trust fund to “boost the supply of housing for low income families.” The Senate version of the bill left this foolishness out, but Congressman Barney Frank has announced his intention to fight to the bitter end for an affordable housing trust fund financed by surcharges on FHA loans, while the White House has announced it will kill the bill first.

“I think the lack of affordable housing is now clear to everyone as a contributing factor to the subprime crisis,” Frank said in an interview with Reuters. “If people want to make that a fight, I think we win.”

Apparently, Congressman Frank has missed lessons from the experiences of the last 40 years when government attempts to provide housing for low income families.......

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Sorry for cutting it off, but the article is my own blog and I don't need a duplicate content penalty, and I would still like to share it here. ;)