Bail Out Home Borrowers, Not Wall Street
description: At a roundtable discussion co-sponsored by the Yale School of Management and The Wall Street Journal, Yale's Jonathan Koppell offers an alternative to the proposed $700 billion bailout. He tells Kelsey Hubbard instead of bailing out Wall Street, bail out defaulting home borrowers.
Tags
Bail
Bail
economy
economy
financial services
financial services
Markets/Exchanges
Markets/Exchanges
real estate
real estate
Comments
The housing problem we are facing and slowing down in the economy is a result of two things. One, the interest rates that consumers are getting when applying for a mortgage or car loan, are a lot higher than what the Fed Reserve has set up (2%). They give us long, complex, explanations of why is this, but if you look at the compensation packages of these CEOs and their mansions, you will understand where the root of the problem is (reason #2). Use the 700 billions to re-set all mortgage interest rates at not more than 5% (for qualified borrowers) and also rescue those facing foreclosure. The 700 billions belong to us, tax payers. The goverment and the Fed Reserve are just managing it, but we the payers must have a say. Maybe all these commissions need to have consumer advocates appointees. -
IowaMom5
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