QUOTE AND NEWS
Reuters  Jul 16  Comment 
The Federal Housing Finance Agency disclosed on Thursday that it paid two law firms over $373 million since 2010 to pursue litigation against several banks over mortgage-backed securities sold to Fannie Mae and Freddie Mac before the financial...
Benzinga  Jul 15  Comment 
Pershing Square Capital Management's founder and CEO, Bill Ackman, was speaking at CNBC's 2015 Delivering Alpha conference on Wednesday, where he discussed his latest stock picks – Federal National Mortgage Assctn Fnni Me (OTC: FNMA) ("Fannie...
MarketWatch  Jul 9  Comment 
It’s been almost seven years since mortgage-finance giants Fannie Mae and Freddie Mac were placed into conservatorship, and U.S. lawmakers have yet to pin down how to reinforce the housing market’s infrastructure, without disrupting sales or...
Forbes  Jul 6  Comment 
The recent decision in the U.S. Federal Court of Claims by Judge Thomas Wheeler is the latest, but by no means last, decision on the highly contentious claims that Starr International has brought against the Federal Reserve Bank of New York...
MarketWatch  Jul 6  Comment 
The seventh anniversary of the federal conservatorship of housing-finance giants Fannie Mae and Freddie Mac is approaching, and the firms remain embroiled in uncertainty.
Wall Street Journal  Jul 2  Comment 
The chief executives of government-controlled mortgage-finance firms Fannie Mae and Freddie Mac will get multimillion-dollar paydays thanks to a massive raise approved by the companies’ regulator.




 

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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