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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