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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: koan who wrote (96789)4/21/2009 8:52:52 PM
From: Elroy Jetson3 Recommendations  Read Replies (2) of 116555
 
If I won't make a risky loan and banks won't make a risky loan, I certainly see no reason for the government to make a risky loan.

Japan already tried that same failed program with their Home Lending Corporation funded by the Japanese Treasury and the Japanese Post Office. Now the Japanese Post Office is insolvent and Japan remains in an economic depression.

We should let the economy recover, by allowing real estate prices to decline to their natural level.

Using high-risk loans in an attempt to attempt to prop-up prices is the same insanity we saw during the Bush administration - and see how well that turned out.

We need to ignore the pleas of the real estate whores who make their living off of other people's misery.
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