Obama Will Make Taxpayers Guarantee Mortgages Without Checking Borrowers' Incomes or Employment

``With no authorization from Congress, President Barack Obama has announced that his administration--through the Federal Housing Administration--will insure refinanced mortgages for 2 to 3 million borrowers without verifying their income or even if they hold a job, according to the Department of Housing and Urban Development (HUD).'' -- Well DUH... look who just discovered the decade-plus running con that is FHA and the GSEs... (on the other hand this is a great deal for those who want to refi underwater!)