What A Week: Housing
By now you probably know that both Freddie Mac and Fannie Mae have had very poor quarterly reports. Worse than expected. And now we’re in for worse trouble. Money is now expected to be tighter as we roll into the fall and home buying will continue to be slow...The Housing Bill Is Law
As expected, President Bush signed HR 3221 into law this morning, making billions of federal dollars available to home owners, shoring up Fannie Mae and Freddie Mac, and providing closer oversight of the financial aspects of home ownership to the Administration and...Senator Schumer and the Law of Unintended Consequences
I’m always amazed at the hubris of politicians, although, one would think at this point in my life that I really shouldn’t be amazed at all. On Friday of last week, Federal Regulators seized IndyMac Bancorp, a $40 billion thrift. It appears that letters...Congress Should Not Micro-Manage The Economy
Not so much because tinkering with the economy on a regular basis is messy as much as having Congress doing the tinkering is just dangerous. Remembering that the Prime Directive of nearly every member of Congress is “Do nothing that interfere with my...Stay in Touch
