This is pretty big news (to put it lightly), so I don’t want to ignore it even though I try to focus on Seattle-specific news here usually. On Friday news came out that Fannie Mae and Freddie Mac will basically be taken over by the US Government this week. I don’t see any point in…
Tag: government_meddling
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US Government to Responsible Americans: Screw You
Well, that’s that. Housing rescue bill heads to Bush for signature Congress passed the most significant housing legislation in decades Saturday, offering help to struggling homeowners and seeking to stabilize a troubled housing market that has dragged down the economy. President Bush will sign it quickly… … Housing “is a matter of grave concern to…
Here Comes the Big Bailout, Funded by You and Me
The US taxpayer is about to be saddled with hundreds of billions of dollars in bailouts to pay for the idiotic decisions of those that gleefully inflated the housing bubble. At 11:00 AM Eastern TOMORROW (Saturday), the Senate votes on the “housing rescue” bill, which includes: …an unlimited line of credit to Fannie and Freddie,…
CEPR: Maintaining Ownership Makes No Sense
The Center for Economic and Policy Research came out with another great paper this month titled The Cost of Maintaining Ownership in the Current Crisis Here’s an excerpt from the summary (emphasis mine): The collapse of the bubble in the U.S. housing market is creating chaos in financial markets while throwing the economy into a…