The Corner

Re: Kudos to Kyl

Larry, included in that goofy rebate package Kyl plans to vote against is an even goofier proposal to allow the Federal Housing Administration, Freddie Mac and Fannie Mae to insure larger mortgages. This long post at Calculated Risk helps explain why this is such a horrible idea:

The administration is currently pushing for increasing the FHA loan amounts and the FHA maximum LTV up to 100%. This is not likely to remove the incentive to take another reckless loan on a still-too-high-priced house. If we aren’t going to ration credit with tighter guidelines and loan limits, then it will have to be rationed with pricing: eventually the models will “solve” the problem by increasing the costs of mortgage credit.

The whole post is a bit of a slog, but worth reading in full if you want a better understanding of the trends behind rising foreclosure rates.

Most Popular

The Secret Life of Joe Biden

In a classic episode of Seinfeld, Jerry is accused by his new girlfriend, a police officer, of being a fan of the tacky 1990s soap opera Melrose Place. When Jerry lies and denies it, she suggests putting him on a polygraph to find the truth. In an effort to beat the machine, Jerry seeks the advice of his ... Read More

The Secret Life of Joe Biden

In a classic episode of Seinfeld, Jerry is accused by his new girlfriend, a police officer, of being a fan of the tacky 1990s soap opera Melrose Place. When Jerry lies and denies it, she suggests putting him on a polygraph to find the truth. In an effort to beat the machine, Jerry seeks the advice of his ... Read More
Law & the Courts

Barr Is Right About the Prosecution Power

Attorney General Bill Barr gave a speech at Hillsdale College on Wednesday that attracted a lot of attention. Much of that attention was for his ill-considered remark (in a question-and-answer session following the speech) that "Other than slavery, which was a different kind of restraint, [the pandemic lockdowns ... Read More
Law & the Courts

Barr Is Right About the Prosecution Power

Attorney General Bill Barr gave a speech at Hillsdale College on Wednesday that attracted a lot of attention. Much of that attention was for his ill-considered remark (in a question-and-answer session following the speech) that "Other than slavery, which was a different kind of restraint, [the pandemic lockdowns ... Read More

Snobs or Mobs?

A   lot of us were feeling pretty good about the future of the media in late September of 2004. Dan Rather and the CBS news division had just tried to derail George W. Bush’s reelection campaign with some genuine fake news — based on fake documents — and, in spite of the manful attempts of ... Read More

Snobs or Mobs?

A   lot of us were feeling pretty good about the future of the media in late September of 2004. Dan Rather and the CBS news division had just tried to derail George W. Bush’s reelection campaign with some genuine fake news — based on fake documents — and, in spite of the manful attempts of ... Read More
Film & TV

The Convictions of Jim Caviezel

‘I didn't get invited by Hollywood to come to this industry,” actor Jim Caviezel says. It was God — not the executives, the talent agents, nor the filmmakers — that gave him his acting talent. “God believed in me, that He wanted me to be an actor. I felt it in my heart very deeply.” A man of deep ... Read More
Film & TV

The Convictions of Jim Caviezel

‘I didn't get invited by Hollywood to come to this industry,” actor Jim Caviezel says. It was God — not the executives, the talent agents, nor the filmmakers — that gave him his acting talent. “God believed in me, that He wanted me to be an actor. I felt it in my heart very deeply.” A man of deep ... Read More