Banks giving risky loans to strapped consumers

The New York Post reports:

American consumers rarely have been such a bad bet. With unemployment up and salaries down, credit worthiness has plummeted.

Nearly half of American households have credit ratings that are high risk, according to Credit Karma, and the average credit score has dropped more than 20 points in the past three years.

Banks don’t care.

With the government keeping lending rates at historic lows, banks are desperate to lend out cash — and are willing to ignore warning signs to do it.

The same “subprime” mentality that drove lending before the 2008 financial crisis has not gone away, analysts say.

Yet, Barack Obama says we are building a new economy on strong fundamentals for the middle class!