Arnold Kling  

Dean Baker on Housing Finance Reform

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The One-Party State... Mr. Smith Goes to Public Choic...

He writes,


The policy being considered by the Obama administration, which would guarantee the mortgage-backed securities issued by mini Fannie and Freddies, is effectively handing taxpayer dollars to the intermediaries in the housing finance process. That's a good policy if the point is to give taxpayer money to financial intermediaries; it makes zero sense as housing policy.

I welcome his membership in the "just say no" club.


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