Word: marketic
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...Lockhart, for his part, agrees that a breakup may be the answer. But no matter what is done, Lockhart believes that fixing Fannie and Freddie is essential to fixing the real estate market. In his speech, Lockhart said, "It is crucial that we get the restructuring done right for all present and future homeowners and renters...
...some portion of Fannie and Freddie may need to be nationalized. Congressman Barney Frank told the same group of reporters that it might make sense to nationalize the duties of Fannie and Freddie that have to do with promoting affordable housing. The job they do of supporting the mortgage market could be returned to the private sector. "The two roles should be separated," says Frank, a Democrat who heads the House Financial Services Committee...
...Still, for the long haul, Lockhart thinks it would be a bad move to permanently nationalize the two firms. Instead, he prefers returning them to the private market, perhaps in the form of something close to a public utility that would charge a fee to homeowners or lenders to subsidize lower mortgage rates...
...companies. As with public utilities, he thinks the government could regulate what these firms could charge and how much they could make. That would limit the risk-taking and excess use of leverage that caused the two firms to collapse. "I think it would be bad for the mortgage market to get rid of them completely," said Kanjorski, who also spoke at the conference on Friday morning. "But if they were smaller, perhaps next time we won't be in the situation where these firms are too big to fail." (See 25 people to blame for the financial crisis...
...what exactly will these 14-to-24-year-olds be doing over the next six to 10 weeks? "Everything," says Andrew Sum of Northeastern University's Center for Labor Market Studies. "You'll have kids in offices, in day-care centers; some kids will be cleaning streets and parks, mowing lawns and cleaning highways." Some states will couple job time with classroom time, while others, like Indiana, plan to use their stimulus funds for green projects, such as trail maintenance and park restoration...