3 ms·
Ok great. So probable outcomes: 1) Mortgage rates will go up by .5%, because these privatized corporations will no longer have the automatic full backing of the
by jaybrendansmith 1y ago
Ok great. So probable outcomes: 1) Mortgage rates will go up by .5%, because these privatized corporations will no longer have the automatic full backing of the government. 2) Lending will become inequitable, because with profit motive, these institutions will operate more like a bank, with income and racial profiling, 3) Without the federal backstop, we open the doors to another 2008 financial crisis, 4) Housing affordability becomes a slave to the market, becoming cheap during economic booms, tight and expensive during downturns. And the fruits of the IPO will go primarily to tax cuts for billionaires. Not seeing a lot of upside here, folks. Seems like a war on the American people.