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What Happens When the Federal Gov't Gets Involved in Housing...

The problem is the legislation authorizing these programs was obviously drafted poorly to begin with. It was just a big slush fund for "affordable housing" that never reached its intended beneficiaries.

The same thing is going on with the Neighborhood Stabilization Programs (NSPs) started in 2008. Lots of fraud and just outright mismanagement. The City of Atlanta alone has wasted million of dollars of stimulus money buying foreclosed houses, over-renovating them for the market/neighborhood and then having to sell them at 50% or less of their basis in the property when they don't appraise for what the City has in it.

No shady developers involved. Just good old-fashioned government waste and stupidity.
 
Perhaps you can quote the former heads of companies like Tyco, Enron, Countrywide, and Goldman Sachs to speak on the evils of government intervention into the well-intentioned and self-regulating aspects of market economies.
 
Perhaps you can quote the former heads of companies like Tyco, Enron, Countrywide, and Goldman Sachs to speak on the evils of government intervention into the well-intentioned and self-regulating aspects of market economies.


Spot on. The extensive gutting of the SEC and the blatant disregard shown to regulators like Brooksley Born and Sheila Bair is more than a "shame"...

Thirty trillion dollars (at least) will continue to operate outside any government purview.

Expect another 4 -5 year run-up and just when the mania can't get any higher and the calls to "buy" can't get any louder...well, that will be the time when the air will be let loose from the balloon.

This is where we are headed.... 5 year boom and bust cycles powered by debt instruments.
 
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