Posted on 06/12/2010 8:35:29 PM PDT by combat_boots
Sheila Bair, the chairwoman of the Federal Deposit Insurance Corporation, began her week with a bit of honest heresy, the kind that only she, among all the bank regulators, seems willing to utter in the wake of the financial crisis.
Deep in a speech she delivered Monday before the Housing Association of Nonprofit Developers a speech that got surprisingly little attention Ms. Bair listed her three main recommendations to put the mortgage industry on a sounder footing. The first two were the usual suspects: better consumer education and protection, and a reformed securitization market. Her third proposal, however, was a shocker, taking dead aim at one of the most sacrosanct tenets of American politics: the lofty goal of homeownership.
(Excerpt) Read more at businessinsider.com ...
Town government around here want’s people to live on one acre lots in 400,000 dollar homes. So, you have one layer of government screwing up another layer of government with the taxpayer or low income/modest workers paying.
Nice.
We’ve met the enemy, and it is our governments.
Lets Be REALLY Honest: The Real Problem With Our Financial System Is an Un-American President and his little helpers in Congress.
Correction: Anti-American President
The practical result of such a move would be to reduce assets of banks to values far below their liabilities.
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