The fallacy of economics by coercion
Foundation for Economic Education
by William Anderson
02/25/09
How soon members of Congress forget that economics by coercion was a major cause of this crisis. Banks and lending agencies found themselves forced by the Community Reinvestment Act to loan money to people who did not qualify for conventional mortgages — and the ’subprime’ market that came from this practice ultimately blew up, bringing down banks, brokerage houses, and whole sections of the economy...
http://fee.org/featured/fallacy-economics-coercion/
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=coercion
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=subprime+market
http://freepage.twoday.net/search?q=William+Anderson
by William Anderson
02/25/09
How soon members of Congress forget that economics by coercion was a major cause of this crisis. Banks and lending agencies found themselves forced by the Community Reinvestment Act to loan money to people who did not qualify for conventional mortgages — and the ’subprime’ market that came from this practice ultimately blew up, bringing down banks, brokerage houses, and whole sections of the economy...
http://fee.org/featured/fallacy-economics-coercion/
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=coercion
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=subprime+market
http://freepage.twoday.net/search?q=William+Anderson
rudkla - 26. Feb, 13:17
