“If President Barack Obama gets his way, consumers who take out mortgages would automatically get a ‘plain vanilla’ loan — such as a traditional 30-year fixed-rate mortgage — unless they opted for a riskier variety. Obama’s plan to revamp financial regulation aims to protect borrowers from the confusing and high-risk mortgages that fed a pandemic of delinquencies and foreclosures, led to the worst financial crisis in decades and thrust the nation into a deep recession.” (MSNBC, Sunday)
Obama’s New Deal: “The Plain Vanilla Society”
FEE Timely Classic:
“Speculation and Risk” by Dwight R. Lee