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View Diary: Concerning the Great Housing Rebound (26 comments)

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  •  If you want to get rid of something, and do (3+ / 0-)
    Recommended by:
    wu ming, WheninRome, worldlotus

    something meaningful, outlaw "bubbles". Literally!

    Look, I think that I understand where you're coming from, and my response is, believe it or not, "if it ain't broke, don't fix it". And where I'm coming from is that I worked in the mortgage industry trenches continuously from 1993 until into 2009. FHA, VA, RDA, Fannie, and Freddie, for most of that time, all had well defined roles and the system was structured to prevent exactly what finally occured. But then, a few years into the Bush term, the big banks finally got the running room that they had been fighting for since the last time that they tanked the world into economic calamity, and they broke all speed records in getting us back there this time.

    In this area, the answer is not to deregulate, it's to stop pretending that "the free market" can work.

    There can be no protection locally if we're content to ignore the fact that there are no controls globally.

    by oldpotsmuggler on Thu Aug 23, 2012 at 06:28:28 PM PDT

    [ Parent ]

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