As we continue to discuss who is at fault for the economic crisis, some experts seem to have a better handle on the subject than others. Recently on Bill Moyers Journal, Emma Coleman Jordan of Georgetown Law discussed the broad list of reasons for the mortgage bailout, and the unintended consequences of the supposed solution to our problems.
First up, what role did the Community Reinvestment Act have in bursting the housing bubble. Jordan lays out the problems simply and impartially. For any conservatives watching this, be warned, there is no name calling or questioning of ones patriotism. So try not to go to sleep from all the mind numbing details relevant in becoming an informed citizen.
This segment covers the unintended consequences of raising the FDIC limit, allowing banks an opportunity to play games with even more money covered again by taxpayers. She warns of a second wave of banks growing bigger than the ones failing now.
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