I want [Freddie Mac and Fannie Mae] to help with affordable housing, to help low-income families get loans and to help clean up this subprime mess. Otherwise, why should they exist?
How on earth does getting more loans help clean up the subprime mess? The loans are the problem! Somebody get this guy a book!
A trillion here. A trillion there.
Lets spend a trillion everywhere. I cant wait til they start talking in quadrillions of dollars.
Coming soon to your neighborhood.
I could see the lefties pushing, and getting all sorts of things.
A moritorium on new building, until the oversupply is sucked up.
They’ll say it will be cheaper, and protect the children and the communities if the Fed’s just buy like half the value of these morgages. They’ll explain that temporary housing, dislocation will cost more.
And, so forth. Basically any argument works. After all these are lawyers that will pound the table.
Meanwhile, limpwrist RINO’s will titter and do nothing and get rolled by white elite guilt. The Bushs and Mitt come to mind.