On Friday, the Feds reported that 95% of all new mortgages have been issued by Fannie and Freddie Mac, the govt system with NO regulatory control. Private banks issued just 5% of all new mortgages.
What this author (a Ph.D. candidate at Stanford) suggests would more than damage the private banks and further strengthen the govt financial entities.
Further, I cannot ever remember an author recommending purposeful default.
“Further, I cannot ever remember an author recommending purposeful default.
“
There have been tons of articles over the past 18 months advocating doing so.
She's probably a radical leftists who's never owned a home and hates the middle class. Destroying the banking system for someone like her, would be a turn-on - - the politics of resentment... usually against "mommy and daddy" who put her through college...