Mortgages’ Future Looks Too Much Like the Past
NYT-
IN a perfect world, policy makers, legislators and concerned Americans would have spent the last few years conducting an honest dialogue about two important issues: how to resolve Fannie Mae and Freddie Mac, the government-owned mortgage finance giants, and how to create a housing finance system that would serve borrowers without imperiling taxpayers.
But ours is an imperfect world, and discussions about these questions have taken place mostly behind closed doors in Washington. The rest of us Americans, who guarantee the mortgage market, have not been given much of a say.
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More blather. Which taxpayers is Gretchen referring to? Well, we know TBTF benefited from the taxpayers, but Gretch and Josh have a peculiar agenda. Which taxpayers (who according to Gretch’s sophmoric, idiotic generalizations) were the most fierce in refusing to lower principle balances on widespread predatory lending? The people who ran the GSEs were Banksters.
Upwards of 5 million people have been, for lack of better words, hit in the face. Looks like no attempt is going to be made to resolve that issue. I suspect they will never forget and will move on with enormous mistrust if not bitterness towards a Kleptocracy that sold them down the river.