Don't Bail Out the Housing Market - Martin Wolf

Complete video at: http://fora.tv/2008/10/15/A_Conversation_with_Martin_Wolf

Financial journalist Martin Wolf argues against any proposed government "bailout" of the U.S. housing market.

-----

Martin Wolf of the Financial Times joins Donald B. Marron of Lightyear Capital for a conversation on the state of the global financial system.

They also discuss prospects for correcting the current economic crisis.

Martin Wolf is associate editor and chief economics commentator at the Financial Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 for services to financial journalism. Mr Wolf is an associate member of the governing body of Nuffield College, Oxford, honorary fellow of Corpus Christi College, Oxford University, an honorary fellow of the Oxford Institute for Economic Policy (Oxonia) and a special professor at the University of Nottingham. He has been a forum fellow at the annual meeting of the World Economic Forum in Davos since 1999 and a member of its International Media Council since 2006. He was made a Doctor of Letters, honoris causa, by Nottingham University in July 2006. He was made a Doctor of Science (Economics) of London University, honoris causa, by the London School of Economics in December 2006.

Category:

News & Politics

Tags:

• bailouts
• subprime
• mortgage
• lending
• crisis
• mortgages
• homes
• houses
• sales
• selling
• loss
• free
• markets
• crash
• recession
• depression
• economics
• economy
• government
• rescue
• fed
• chairman
• ben
• bernanke
• fora.tv
• foratv
• fora
• tv

[pdxeddie1111]

well who thought bailing out the banks was a good idea? to keep a depression at bay? the only obligation the fed had was to cover the deposits for failing banks and thats it. Should have let the chips fall and as jobless rates skyrocketed the government could have used their credit to start infrastucture projects to curb the joblessness and paving the way for a real recovery but all this did was postpone the inevitable and waste our bullets, the economy must be allowed to reset

[taineasy]

We should not bailout anyone especially people who bought a house they could not afford or any speculators, which are one in the same. In each case they were just gambling. Let the market find its own bottom and then move on. Too bad so sad! There have always been winners and loosers. Price manipulation never works or lasts.

[draadjesvlees]

You're completely right: but 'the ordinary citizen' who refused to think and wished to believe that prices can only go up because he saw so on 'Oprah' and the likes also doesn't deserve to be saved. Let them go down, let them suffer, so we reinstore normal economic behavior: you buy what you can afford, not what you can lend.

[5one50]

just moved new area

someone smart please help me Ds

[chambapogo]

I'm kind of an economic Darwinist here, but I think "survival of the fittest" should apply to this. I'm not talking about a local guy putting his small company in debt by a few thousand and the bank foreclosing on him early. Bailouts of the nearly trillion dollar amount are only deserving of the failures they themselves have created... Right?

[poyetas]

Why the negativity? He's right...fixing prices will only lead to inflation and a reduction of your purchasing power. Either you take the hit now and fix the system or wither away...

[FattKidd]

Fuck the CFR & any of the elitist ideas that come out of that piece of shit!

[tbackes]

hello you are a british piece of shit i hope you rot in hell...