Friday, April 8, 2011
The Government needs to get out of the mortgage business. Here's a road map on how to do it.
Peter Wallison, Alex Pollock and Ed Pinto try to provide a roadmap here to get the government out of the mortgage business. This is a great idea. Fannie and Freddie should be put "on budget" and should be scheduled to fade away over time. Underwriting standards need to be maintained and all government guarantees should end. Maybe we are getting somewhere?