We Can Keep People in Their Homes [OPINION]

Andrew Caplin, Thomas Cooley, Noel Cunningham and Mitchell Engler argue for an alternative allocation of the U.S. Treasury’s $700 billion bailout funding: structure shared appreciation mortgages, or SAMs, to write down portions of mortgage debt on the condition U.S. homeowners share future appreciation gains with the U.S. taxpayer. (WSJ)

Harvard economist Greg Mankiw offers a critique of their plan here.

Sources: (WSJ, Greg Mankiw’s Blog)