Dan Mitchell on the Failed Mortgage Modification Program

[sdfkjllshadflhadfshl]

Congratulations, your home mortgage is now 'too big to fail'

[Camdenyardbird]

What does this all say to those who pay their mortgages on time?

"Suckers."

[rockinewok]

Even at the rate that Mr. Weller is suggesting you're looking at ratio of something like 96,000 dollars for every loan. Like he pointed out the majority of these loan mods are temporary. This is simply far too excessive. Get the government out of the market.

[Jaspian]

Wow. Epic victory for the good guys :)

If I were Dan and I were given the last word, I'd just say "I don't need it. Christian's response demonstrates how indefensible their position is." This discussion was over before it started.

[Wormtail81]

Also, it's incredibly surreal for Barney Frank to position himself as the voice of reason and restraint on this issue.

[Wormtail81]

Um, why would we want to keep people in houses they cannot afford?

[bgmorse]

Dan Mitchel for President!

[IRONMANAustralia]

Sic 'em Dan.

[HarrisonCountyStudio]

75 Billion for 33,000 mortgages? WTF! Obama is killing our country!!!!! Damn these guys are worse than Bush!

[Truthpolice9698]

Excellent as always Dan.

[whoo689]

I'm so sick of seeing Christian Weller's ugly-ass bald mug debating someone worlds smarter like Dan Mitchell.

[bittergunowner12]

@whoo689 This is because that dumbass progressive Keynesian is the only thing they can put up against Mitchell.

[hayesism]

Christian is almost as stupid as Christians.

[1czelaya]

Christian amazes me. He truly does. No matter what intervention he thinks will work... it never does. He himself said that the 750 billion was going to work... it didn't. Then asked why TARP didn't work he comes up with more excuses. Christian sounds more like a politician(liberal, keynesian, socialist, facist) than an economist.

Let the prices of homes go down. Let the pricing mechanism work. Government cannot continue to distort housing prices. Especially, at the cost of taxpayers.

[DatVillain83]

Barney Frank is always detached from reality.

[bajoverga]

Fuck Christian Weller is a dumbass

[BigDanWoT]

No, he isn't. That's the worrisome part. The not-so-worrisome part is that less and less people are feeding from that trough.

[BigDanWoT]

Christ almighty give Dan someone else to debate, CNBC...

[caltrop69]

I don't think they can find anyone else.

[a4finger]

God I hate Christian Weller, hes so stupid and such a jackass

[Roddyoneeye]

30,000 people at $2,500,000 each! IMPOVERISHED ? Not Even I Am THAT DERANGED !

[RMMHS4RP]

Hey Christian: "The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups." —Henry Hazlitt

[Betty5150]

Christian is a moron.

It's kinda funny how you brought up Hazlitt on a Cato video. The cato institute doesn't really like Austrian economics.

[hayesism]

@Betty5150

I'm no economist, but surely the all the Austrian school's laissez-faire, spontaneous order, small government stuff would appeal to Cato? On what grounds do they disagree?

[Betty5150]

On the grounds that The Austrian school believes in no government intervention what so ever, the Cato institute are monetarist mainly, so they want some government intervention. Also, Cato is for the adjusting inflation per population growth or how ever you say it, Austrian economics disagrees.

Plus, lots of Austrian economist are anarcho-capitalist.

[MagnusIan]

Barney Frank sounds like he's a cartoon character.

[smudboy]

Wow, Christian scares the crap out of me. The hell is he talking about?

[ForTehNguyen]

Center for American Progress = bunch of closet commies

[bamatecangel7]

What is wrong with our "smart" people? All these goobers on the left are educated beyond their IQ or are part of this progressive movement to reset the USA into this third world economy.

[TrueEmergence]

Whoa, Christian Weller completely wrote Dan off haha, fail on his part though.

[LeGioNoFZioN]

weller is a tool

[helltrackrider]

Obama is a Tool