Belmont University

Is Our Government Getting into the Mortgage Business?

From James Pethokoukis at US News:

The Fed's brokering and backing of the JPMorgan-Bear Stearns deal may be just the start. Think about it: Uncle Sam might well be on the verge of doing one or more of the following: 1) refinancing a couple million mortgages and requiring lenders to write down the value of loans; 2) buying--via the Fed--billions in mortgage-backed securities; 3) creating a new government entity to nationalize troubled institutions.

Nationalizing part of the housing industry? Nationalizing health care? Sounds like we are marching down the trail to socialism. A scary outlook for our free market economy!


Posted by Jeff Cornwall on March 25, 2008 08:40 AM |

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Comments

I am not often someone who conforms to the field of controversy, but something like this would make for a very interesting beginning to a novel ending in a 1984esk environment.

Definitely some interesting questions. What does everyone else think?

Birdied by: Cameron | March 25, 2008 10:18 AM

A scary outlook for our free market economy!

hmmm ... how can you said that ?

Birdied by: Brokencode | March 27, 2008 12:49 PM

Tap it in and Comment, Please

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