Housing collapse déjà vu? After the crisis of 2008, federal regulators took steps to tighten credit requirements to prevent a relapse, since government-mandated easy lending to high-risk borrowers was a primary driver of the collapse. In his State of the Union address in January, Barack Obama told Congress to “send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of homeownership alive.” Now, however, he’s seeking to once again ease lending requirements and to expand the role of Fannie Mae and Freddie Mac with more subsidies for home purchases. Congress doesn’t have the stomach to reduce the role of the two government-run mortgage giants either. Loose lending dates back to Bill Clinton and Jimmy Carter, so it’s no surprise to see Obama go back to the failed policies of the past. More…