Curator / Business & Finance In-Depth / The Mortgage & Credit Crisis /
October 30, 2008
The Mortgage & Credit Crisis
Geanakoplos/Koniak: Mortgage Justice Is Blind [OPINION] · Yale economist John Geanakoplos and lawyer Susan Koniak suggest that if the U.S. wants to avoid a tsunami of home foreclosures, then Congress must transfer the rights to restructure mortgages from security holders back to community-based, government-appointed trustees. (NYT)
Treasury, FDIC Discuss $600B Anti-Foreclosure Plan · The U.S. Treasury and Federal Deposit Insurance Corporation are reportedly planning a new $600 billion federal program to guarantee mortgages and help prevent home foreclosures. The program could potentially guarantee up to 3 million at-risk mortgages. (Reuters)
Home Sales May Have Bottomed [OPINION] · Economist Rebecca Wilder argues that with Fannie Mae and Freddie Mac now explicitly backed by the U.S. government, there is no reason for the housing market not to “stabilize.” (News N Economics)