Martin Feldstein discusses housing and the economy as well as suggesting a rough outline of a plan that he believes would stop the bleeding.
His plan essentially sees homeowners making the choice to receive a credit (effectively a lowering of their principle) in exchange for a conversion to a "recourse" loan.
How can anyone, ANYONE, take Martin Feldstein seriously? He lined his pockets with AIG money and looked the other way as the market collapsed due to the mort def swaps. What an arrogant pr*ck.
torr59622 4 months ago
he nos everything about insurance!!, listen him and a few others are to blame!!!
utuberocker40 1 year ago
people in america!, dont allow this man to push anymore buttons,hes killing your money value every day!!get them all out of office they are all con men and should be in jail.
utuberocker40 1 year ago
hey this guy and his team of wealthy conmen are killing all us!!
utuberocker40 1 year ago
hey, my last name is feldstein. we're brothers from another mother.
BentFarfel 1 year ago
@elephantinpajamas well said.
Academic hocus-pocus to avoid pressuring banks on taking a principle haircut on the loans.
special1740 2 years ago
"Full recourse" sounds crazy. It'll strip people of everything if they're in a corner and can't pay. With the way the labor market is and rising prices it puts the burden on the little guy with a huge risk of catastrophe. And why doesn't he place the responsibility for all this on the flood of money that came into the system from the Fed and the irresponsible banking practices that followed. He creates a neat package but there's no real meat in the sandwitch.
elephantinpajamas 3 years ago