Here we go again: Housing Bubble 2.0!

Oh no. So, who are Democrats gonna blame when it blows up in their faces this time?

WaPo: The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

Cautious? I believe the phrase is fool me once, shame on you; fool me twice, shame on me. The proverbial 'me' in this case would be any entity outside the federal government, from the people to the banks. Einstein's definition of insanity also comes to mind, when ignoring the roots of the first housing collapse: the Community Reinvestment Act.