Streams

Episode #97

Will Getting A Mortgage Get More Expensive?

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Friday, March 14, 2014

During the height of the financial crisis, mortgage giants Fannie Mae and Freddie Mac were bailed out by taxpayers to the tune of $187 billion. Now, more than five years later, they're on track to pay all that back and more. But then what? Joe Nocera of the New York Times and Heidi Moore of the Guardian discuss the latest bipartisan plan from two senators that would mean the end of Fannie and Freddie, and possibly change how we buy a home and how much it costs. There's a lot of doubt that Congress will even vote on the legislation in an election year, but it could be the first step in ending government involvement in the housing market. Plus, the battle over Herbalife, and SeaWorld: Good bye killer whale shows?

 

Hosted by:

Charlie Herman

Produced by:

Daniel P. Tucker

Contributors:

Rana Foroohar and Joe Nocera

Comments [1]

Aldo from Brooklyn

I just don't get why the United Stated government should own/backup 80 percent of private business transactions (eg. mortgages). Hmm. Liquidity and malfeasance, can't even at this point remember which quasi-government mortgage CEO was shown the door during the crisis. Was not impressed by having a Guaridan reporter (heh, I call the Guardian one of the few remaining Stalinist newspapers) and Mr. Nocera (also a "friendly" pro-government interventionalist thinker -- no offense; and Mr. Nocera wrote that interesting book about the "democractization" of finance with the credit card, Merill's bundling of banking and checking). As an editor, I am amazed by one-source stories. Not even "a-to-be-sure" graf in disagreement. Amazing.

I submit the government messes up the pricing mechanism of lending for homes, and healthcare and agricultur and, okay, enough. Jeez. Oh, and the next big fiasco to arrive: the student loan market, also government controlled (again lending to students at below market rates) is dominated by government. And the student loan market is gonna blow up.

Mar. 14 2014 06:20 AM

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