Being in the mortgage business, I had a thought yesterday that hopefully can be used to better sell the Public Option and that is to compare it to the VERY successful FHA program. You don't need to compare the U.S. Postal System to Fed Ex and UPS, etc. That is a rather lame comparison, IMHO.
Rather, FHA is the PERFECT comparison to the Public Option as it is a government insurance program that has competed with private mortgage insurance firms for decades. The private insurance companies (GE, Radian, MGIC and PMI, etc.) have been profitable insuring conventional loans competing against the FHA program.
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