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Friday, January 6, 2012

Federal Reserve says to grow economy, provide cheaper mortgages to create more home owners

No, this is not an Onion article. No, this is not some sick joke. Yes, you read the headline correctly. In this week’s edition of The Silver Underground‘s Fed News Friday feature, we are actually reporting that the Federal Reserve’s recommendation to grow the economy is to expand the role of Fannie Mae and Freddie Mac “to provide cheaper mortgages to a broader pool of homeowners”(!)…  you know, just that policy that led to the housing bubble and the economic crash in the first place!

Next thing you know, they’ll be recommending that a good way to save financial markets is to insure all these housing mortgages, then bundle up all of those insurance policies together to sell as securities to investment companies, and then further insure the Wall Street banks that buy these securitized mortgages with the assurances of taxpayer and printing press-funded bailouts. It all worked out so well for the economy before, it just has to work again, right!?

Read the rest of my commentary at The Silver Underground.

Wes Messamore,
Editor in Chief, THL
Articles | Author's Page

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