Friday, October 09, 2009
Here We go Again
You can count on the Fed to do something about the Federal Housing Administration if it is, as reported, on the verge of collapsing. And you can also count on the Congress to let the Fed do that. A further collapse in housing prices is highly political in nature. There are already plenty of angry voters "out there" upset over unemployment and how Washington bailed out Wall Street tycoons. So, if them, why not us? Politicians will not antagonize their voters anymore and will vote for bailing out FHA. Read this.