Tag Archives: milton friedman

What Will Be The Cost To Taxpayers Of The Mortgage Settlement?

The late Nobel prize winner Milton Friedman summed up economics by saying, “There’s no free lunch.” So the Obama administration and state attorney generals extracted $26 billion from the five big banks to settle disputes over improper mortgage foreclosure paperwork … Continue reading

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Is Easy Money The Way Out?

The Federal Reserve tries to legislate low interest rates, creating a misallocation of capital, leading to bubbles such as the one that created our current crisis. We should stop targeting rates and target money supply. Milton Friedman would agree. Here’s … Continue reading

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All Income Should Be Equally Taxed

From the WSJ: W. Reynolds (Letters, Oct. 10) describes several government policies that led to the current crisis in mortgage financing, including excess risk-taking encouraged by Freddie Mac and Fannie Mae as well as the mortgage interest deduction. He forgets … Continue reading

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How Well Have Fannie/Freddie Served Us?

They’re costing us billions. Report: Fannie Mae and Freddie Mac became semi-nationalized after nearly one in 10 borrowers entered default, producing a broad political consensus that these government-sponsored enterprises remain essential in keeping the home mortgage market functioning. But a … Continue reading

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Let’s Hope Nationalizing Of Banks Is Temporary

Jonah Goldberg writes: ‘There’s nothing so permanent,” Milton Friedman famously said, “as a temporary government program.” Let’s hope that the partial nationalization of America’s banking system isn’t equally “temporary.” In a dramatic meeting Monday between Treasury Secretary Hank Paulson, Federal … Continue reading

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Why Do We Give The Government A Monopoly On Mortgage Loans?

Here’s a column from Green Bay asking some obvious questions. Why do we give the government such a big role in the mortgage market? Why is Uncle Sam guaranteeing so many loans? That only makes real estate more expensive. The … Continue reading

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