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Monday, November 30, 2009

Government to Step up Mortgage-Default Program

“The Obama administration on Monday plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a $75 billion taxpayer-financed effort aimed at stemming foreclosures is foundering.” (New York Times, Sunday)

If government makes it easier to change the terms of loans, it will make it harder to get loans.

FEE Timely Classic
“Government Intervention Is Needed to Solve the Housing Crisis? It Just Ain’t So!” by Steven Horwitz

  • Sheldon Richman is the former editor of The Freeman and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families and thousands of articles.