5 thoughts on “Mac and Mae

  1. Real progressives? Or neo-lib corporatist Obama-type “progressives”? Serious question.

    On Diane Rehm Show yesterday, everyone, from Diane Rehm to each guest had the rightwing attack points down pat about Freddie and Fannie. They all dissed the organizations.

    But, when pushed, the guests who knew history pointed out that both came out of a program developed by New Dealers during the Great Depression, when there was no way to assist people in keeping their homes and lenders were demanding 50% down payments. As times progressed, a movement for “deregulation” and privatization led to Fannie and Freddie being made essentially privatized, but with government support.

    Without F&F, home loans will cost more, period. No one was willing to say how much higher, but the right leaning guests said the private banksters would lead to lower rates with only a few more dollars per month from the borrower to pay for possible situations such as the meltdown caused by the…banksters. The less right leaning said it would mean that if there were no F&F’s, there would have to be another Federal program to provide the insurance to banksters that they won’t be held responsible for situations such as the recent meltdown caused by…banksters.

    So, banksters want their cake (profits) and to eat it too (tax payers provide insurance against losses).

    Also, all agreed 30 year fixed mortgages would not be available — without gov’t programs. Right leaning guest (Zandy?) was high on completely free floating interest rates; said that’s what Australia has and it works there. (Uh, Australia also has good national health care, dude!)

    Beware any rightwingers bearing “gifts,” especially when corporatist Dems accept them.

  2. Government’s Role in the Housing Market.

    Mark Zandi chief economist of Moody’s Analytics and author of “Financial Shock” and the forthcoming book, “Paying the Price.”

    Guy Cecala Publisher of Inside Mortgage Finance Publications

    Dina ElBoghdady covers the real estate market for the Washington Post.

    Michael Barr professor at the University of Michigan Law School, Senior Fellow at the Center for American Progress, former Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury, and a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

    Wonder of wonders! Rehm now as transcripts! Saves time.

  3. Question: It might just be me, but the light green coloring for links is a bit difficult to pick out quickly. Any way to make linked phrases a bit more visible?

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