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Wednesday, April 02, 2008

A Key to the Mortgage Debacle

From Arnold Kling at EconLog:
In the case of mortgage markets, the internal contradictions of regulatory policy are more of a problem than the execution of the policy. For example, you can't place a high priority on home ownership for the "under-served" and then act all put out when so many of these folks who can't afford homes wind up in foreclosure.

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