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Author: WatchingTheHerd Big red star, 1000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 459760  
Subject: Re: Hillary's 2007 housing proposal in retrospec Date: 9/18/2008 10:53 PM
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Last summer, when subprime foreclosures were the big issue,
candidate Hillary Clinton floated a proposal.

Expand the authority of Fannie and Freddie to buy non-conforming
mortgages and establish a $1B fund a help distressed home owners.

This just illustrates our politicians had no idea of the magnitude of the problem.




It seems pretty evident that any of the current proposals involve dollar amounts or eligibility which are at least one order of magnitude beneath the scale of the dollars or numbers of loans at risk. Regardless of the scale, a quick analysis of the mechanics of any such freeze at the micro-economic (the homeowner) or macro-economic (the financial industry) levels makes the logic behind such proposals even more dubious.

I may just go into fall re-runs.

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