QUOTE AND NEWS
MarketWatch  Aug 8  Comment 
LendingClub Corp. announced further changes to its leadership Monday afternoon along with earnings, and the online lender's beleaguered stock plunged yet again in late trading. The company announced the departure of Chief Financial Officer Carrie...
Reuters  Aug 8  Comment 
Fannie Mae and Freddie Mac, two government-controlled housing finance agencies, would need a big cash injection to weather another financial meltdown, a government regulator said on Monday.
MarketWatch  Aug 8  Comment 
In a severe economic downturn, the mortgage giants would need billions, according to a Dodd-Frank-mandated stress test.
MarketWatch  Aug 4  Comment 
Fannie Mae reported second-quarter earnings and revenue decreases as interest rates decrease




 

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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