http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/ The Competitive Enterprise Institute Blog Fri, 29 Aug 2008 07:07:44 +0000 http://wordpress.org/?v=2.6 http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-47357 Most Americans Oppose Mortgage Bailout for Borrowers | OpenMarket.org Fri, 28 Mar 2008 18:40:48 +0000 http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-47357 [...] earlier explained why mortgage bailouts are a terrible idea here, here, here, here, here, here, and here. addthis_url = [...] [...] earlier explained why mortgage bailouts are a terrible idea here, here, here, here, here, here, and here. addthis_url = [...]

]]> http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-43733 A Fairer Alternative to a No-Strings Bailout? | OpenMarket.org Mon, 28 Jan 2008 04:15:07 +0000 http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-43733 [...] last year, the Treasury Secretary orchestrated a bailout of some subprime borrowers with adjustable-rate mortgages. Under it, their interest rates, which [...] [...] last year, the Treasury Secretary orchestrated a bailout of some subprime borrowers with adjustable-rate mortgages. Under it, their interest rates, which [...]

]]> http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-41237 Jobs numbers in context and the best ’solutions’ | OpenMarket.org Fri, 04 Jan 2008 21:42:00 +0000 http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-41237 [...] I have criticized the Bush administration on everything from its “voluntary” mortgage rate freeze to his support of proposals to massively expand the Federal Housing Administration. But although [...] [...] I have criticized the Bush administration on everything from its “voluntary” mortgage rate freeze to his support of proposals to massively expand the Federal Housing Administration. But although [...]

]]> http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-40126 Mark Helm Thu, 06 Dec 2007 23:11:43 +0000 http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/#comment-40126 The Paulson/Bush/Hillary plan for the bailout of the banks in the mortgage mess is a terrible idea that reeks of government intervention and coercion. Instead, let’s try another approach by creating a super fund to help the sub-prime borrowers get out of their self-inflicted financial holes. The fund should be stocked by having all the mortgage bankers, mortgage brokers, real estate brokers, appraisers, lawyers, title company executives, credit agency executives, investment bankers, hedge fund managers, and any other residential real estate parasites forfeit their commissions, bonuses and stock option gains. There are thousands of these “professionals” driving around in their Mercedes, Porsches, Bentleys and Ferraris, living in their multi-million dollar McMansions (fixed rate mortgage with low interest rates, of course), and laughing at the poor rubes who let them get away with the largest heist in the history of the world economy. I think it is only fair to have them return their billions of dollars “earned” over the past five bubble years. The Paulson/Bush/Hillary plan for the bailout of the banks in the mortgage mess is a terrible idea that reeks of government intervention and coercion. Instead, let’s try another approach by creating a super fund to help the sub-prime borrowers get out of their self-inflicted financial holes. The fund should be stocked by having all the mortgage bankers, mortgage brokers, real estate brokers, appraisers, lawyers, title company executives, credit agency executives, investment bankers, hedge fund managers, and any other residential real estate parasites forfeit their commissions, bonuses and stock option gains. There are thousands of these “professionals” driving around in their Mercedes, Porsches, Bentleys and Ferraris, living in their multi-million dollar McMansions (fixed rate mortgage with low interest rates, of course), and laughing at the poor rubes who let them get away with the largest heist in the history of the world economy. I think it is only fair to have them return their billions of dollars “earned” over the past five bubble years.

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