September 8, 2008

If we're gonna nationalize

Freddie and Fannie, then shouldn't we start doing things in citizens' interests?

Like how about offering 50 year fixed refi deals for people who want to lower their monthly payments? Even subprime borrowers, with some kind of IRS repayment enforcement in the event of default?

2 comments:

stuart_zechman said...

Why isn't this an actual policy proposal, Jay?

Why would you think that this sort of thing isn't on the lips of some supposedly populist politicians?

Jay Ackroyd (@jayackroyd) said...

I think it should be.

It would have been hard for private institutions to do this. But once we've nationalized, seems to me that it makes sense. I have to drop Ian Welsh a note about some other stuff, so maybe I'll ask about this, and his possibly posting about the idea at FDL.