QUOTE AND NEWS
Benzinga  May 12  Comment 
On Thursday, director of the Federal Housing Finance Agency Mel Watt reportedly testified in front of the Senate Banking Committee calling for Federal National Mortgage Association (OTC: FNMA) and Federal Home Loan Mortgage Association (OTC: FMCC)...
MarketWatch  May 11  Comment 
The regulator of the two mortgage finance giants wants to avoid their having to take a draw but Congress doesn’t think he has the right to suspend quarterly payments to Treasury.
MarketWatch  May 11  Comment 
Federal Housing Finance agency director Mel Watt told Congress Thursday that it’s no longer sustainable to keep the two government-sponsored enterprises under government conservatorship nor to drain them of capital.
MarketWatch  May 9  Comment 
Boston Fed President Eric Rosengren said Tuesday GSE reform could lead to a potential shock for the commercial real-estate market.
Reuters  May 9  Comment 
A Federal Reserve official warned U.S. lawmakers on Tuesday that any reforms that reduce the massive lending presence of mortgage giants Fannie Mae and Freddie Mac in the multi-family real estate market could shock that sector of the economy.
Benzinga  May 8  Comment 
Federal National Mortgage Association (OTC: FNMA) reported net income of $2.77 billion in Q1, falling a bit short of Wall Street expectations. However, the government sponsored entity and its cousin Federal Home Loan Mortgage Corp (OTC: FMCC)...
MarketWatch  May 5  Comment 
The government-supervised mortgage finance company had a bigger profit than a year ago but continues to operate with less and less capital, as directed, making a bad quarterly performance more dangerous.




 

I suppose a priapicnl reduction program would be better than nothing, but there is always the risk of unintended consequences or even operational failure when attempting such a specific intervention. Why not let monetary policy do the work in a continuous, predictable, and agnostic fashion? It would deliver benefits not only to home owners, but also by reducing the real return on the many large cash-equivalent investments amassed by corporations like Apple ($60B last I checked), spurring them to put funds to more productive use. And of course, monetary policy can benefit from the Chuck Norris effect. Fiscal policy hasn't exactly inspired such reactions of late.

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