National Bank: How to Fix the Housing Crisis for Less than 700 Billion in Bailouts
Posted March 30th, 2009Dane asked: Recently the news has been dominated by developments with the 700 billion dollar bailout package, and rightfully so. 700 billion is an astronomical sum of money. The first problem is that the 700 billion dollar bailout adds a huge amount of money to the national debt. Not only that, some have hinted that [...]
Is the pending economic stimulus legislation an attempt to nationalize the home mortgage industry?
Posted March 26th, 2009Bopped asked: Seem like raising the caps on federally insurable mortgages and having the various gov’t underwriting agencies purchase unvetted portfolios of mortgages effectively nationalizes the home mortage industry. SInce I am reading that there may be $2 trillion of bad loans out there, I suspect that means we as taxpayers will then be on [...]
Subprime Mortgage Lending
Posted March 24th, 2009Alex Tragnitz asked: “Subprime Mortgage Lending and Its Effect on The Economy” In the 1990’s the United States saw a rapid growth of subprime mortgage lending. Lending institutions started to give credit for mortgages to millions of borrowers who may have been denied credit in the past. Homeowners who were not as fortunate as others [...]