Category: HERA

Housing reform legislation: yes, it *is* that big a deal: Part 2, housing

29 July, 2008 (08:41) | GSEs, HERA, Legislation and policy, Policy, Subprime, US News | No comments

[Continued from yesterday's Part 1.]
 
Yesterday we got rolling on the consequences of HR 3221, the Housing and Economic Recovery Act (HERA) of 2008 (this Reuters summary is as good as any).  Yes, it is a big deal: a huge deal. 
 

 
We’ve seen that it completes a fundamental revolution within the financial system, a financial [...]

Housing reform legislation: yes, it *is* that big a deal: Part 1, the GSEs and banking

28 July, 2008 (09:44) | GSEs, HERA, Legislation and policy, Policy, Subprime, US News | No comments

Yes, it is that big a deal.
 

Zeus, this is a big deal
 
I almost never comment on legislation in process, because the factory puts so many twists in the sausage that speculations are largely pointless – and this legislation, for all its multiple motivations and antecedents, probably would never have been enacted but for the Fannie/ [...]