“One more time? We've done this. We've done this at least four times where there's a new government program to help homeowners who have trouble with their mortgages. None of these programs have worked. I don't know why anyone would think that this next idea is going to work. All it does is delay the clearing of the market. As soon as the market clears and we understand where the prices really are - that will be the most important thing we can do in order to improve home values around the country.” ThinkingKnowsDoeImportantIdeasCountryDoneHelpingHomeGovernmentValuesOrderNextCan DoFourTroubleProgramImportant ThingsConservativeMore TimeDelayGoing To WorkMortgageClearingGovernment ProgramsNew GovernmentConservative ValuesHomeowners Author:John Boehner
“The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.” ShouldHas BeensPlayGovernmentStrongNationsRolesEconomyEvidenceFinanceInterventionMessyMortgageRecessionsGovernment InterventionGreat Recession Author:Mark Zandi
“Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy.” WantProblemGovernmentStepsPolicyExamplePoliticianEconomicsClaimsRateAffairFinancialCreditDebtExpensesTaxpayersMortgagePunditsCreditorsBailCrunchGovernment PolicyBorrowersForeclosureMarket FailureFinancial ProblemsCredit Crunch Author:Walter E. Williams
“There is only one institution that can arrogate to itself the power legally to trade by means of rubber checks: the government. And it is the only institution that can mortgage your future without your knowledge or consent: government securities (and paper money) are promissory notes on future tax receipts, i.e., on your future production.” MeanGovernmentSecurityTaxesPaperInstitutionsTradeNotesProductionsChecksOur FutureConsentYour FutureMortgageRubberReceiptsPaper Money Book:The Ayn Rand Lexicon: Objectivism from A to Z Source: The Ayn Rand Lexicon: Objectivism from A to Z