kingofithaki

Case for Abolishing the FHA and GSEs

sorry to disappoint you but where do you get the idea that government intervention caused the push up in prices...fnma has been around for maybe just maybe a few years and markets have gone up and down along the way...obviously you subscribe to the matt lauer teleprompter service for your daily intake of information..perhaps you should look up the HOLC that carried the nation out of the economic tailspin caused by andrew mellon's insane insistence that any non fed financial institution was to be cut off. suspect you are also one of those folks who drank the kool aid and keeps parroting that the S&L crisis cost the taxpayer 160 billion...sorry to disappoint but the RTC number was less than 90 billion (GAO 96-123, pg 11). Government intervention actually cost nothing in the S&L crisis...when markets bounce back, the increase in tax revenue from stable market growth more than makes up for the previous investment in regrowth...by the way, the biggest problem in the market is not a few just over broke workers trying to stabilize the finances by owning a home...yes a few will overstretch, but most poorer working class citizens(75%) end up finding a way to make the mortgage payment....you would prefer that Jimmy Stewart had jumped and Potter got to rule Bedford Falls...you probably cried when darth vader threw your hero, Darth sidious, down the abyss to his death...poor chap...you probably were upset that dorothy's stupid dog pulled the damn curtain...did fnma or fha come up with the nina loans...praying that mr and mrs inflation would cover the obvious underwriting issues...you seem a bit of a misanthrope...are you related to my ex-wife's divorce attorney??? lives will be destroyed...please you just want the poor to pay for the road to drive your suv on...you are worried about the poor folks who might not actually be willing to work a second job to pay the mortgage...yeah right...I'm sure you have not missed one of those Big Bother sessions with those poor kids...what you ...oh never mind, it's too late and you are probably praying for detroit to file bankruptcy to be able to say "they" don't know how to manage a government...your white hood is showing...