The Rise and Fall of Hope and Change

The Rise and Fall of Hope and Change

Alexis de Toqueville

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.
Alexis de Tocqueville

The United States Capitol Building

The United States Capitol Building

The Constitutional Convention

The Constitutional Convention

The Continental Congress

The Continental Congress

George Washington at Valley Forge

George Washington at Valley Forge

Friday, March 2, 2012

House of Cards: Reforming America’s Housing Finance System

From The Mercatus Center:


by Dwight M. Jaffee, et al.
Mercatus Center
March 01, 2012
Policy Papers
In 2006, at the height of the housing bubble, prescient voices warned of the dangers inherent in allowing privately managed, profit-seeking government-sponsored enterprises to operate with implicit government guarantees. In those heady years, both the government-sponsored enterprises and homeowners racked up big profits. In the wake of a great housing crash and the financial collapse of Fannie Mae and Freddie Mac, however, America’s housing policies, particularly those related to government-sponsored enterprises, must be rethought. As we approach the future, we need to move intelligently away from the mistakes of the past and toward a safer system that does less to distort housing markets and more to protect taxpayers.

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