Life did ears of your you spend working in congress. In Congress Years as a staff member, first as a staffer for congressman ohio and for a staffer for the Budget Committee was chairman. I was the analyst for national and then in irs 005 i moved on to the senate and worked at the Budget Committee there in the same capacity. What do you think of that statement up close its truly ugly . Is; however, i ould want to testimony per that. Its been a long time habit and or reflex of veryone to criticized congress because they think that public. Es with the it truly has become to some of ee a horror show because the increased partisanship and polarization; however, it is an established hat is by the first article in the constitution. If we dont nurture it and good people do not go there ask and staffers do not go there one of ll have is the those chamber of deputy french third the republic. I dont want that. Of nt young people instead going to wall street to go to ongress or to go to the execut
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"No Juni you need to stop" felipejack
What?! Tell me! Ay this is who I am! And this is all I can give you for what you give me.for your hearts and your souls. Yesterday,.
which are not reflected in the prices of the houses. left alone, the housing market will produce too few houses, fewer than the social value of the housing. now the problem is that we ve had a fiasco in the housing market. okay. but we are where we are. there s nothing we can do about that. conservatives who would solve the disportions in the housing market by having their favorite pin yours truly toes freddie mac and frannie mae are picking easy targets and have a small problem. what are they going to do about the social value of private housing? it seems to me that forget about the current system. anyone who wants to dismantle the current system, which is dreadfully inefficient, although they never get the mortgage deduction for second homes which seems to me is something we can live without. well, never mind. in fact, the deductibility of mortgages, margaret thatcher got rid of that. so there are all sorts of distortions in that market. and i don t want to be in the a po
[laughter] government intervention is sometimes necessary to offset instances of a market failure. i understand that there is perhaps a greater danger of a government failure than market failure. @@@@@@@ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ created by sub-optimal industry structures. that is a mouthful. i will explain it in a minute. consider the recent financial crisis. mortgage brokers had no incentive to avoid risky loans because they were passing on the risks to other people. they wrote mortgages with no income, no jobs, no assets. if your income was really too low, the broker help you find another zero somewhere. they had no skin in the game. bank executives, who happened incentive to maximize short- term who had incentive to maximize short-term profits and the rating agencies, who were paid by the issuer s only if the deal went off, were induced to gi
the housing market creates such bangst that i hesitate to do it. margaret thatcher preferred increasing home ownership. why? it produces positive externalities. it produces better schools. it produces a whole bunch of things which are not reflected in the prices of the houses. left alone, the housing market will produce too frew houses, too freew houses. we had a fiasco in the housing market. we are where we are. there is nothing we can do about that. . . in fact, the deductibility of mortgages, margaret thatcher got rid of that. there are all sorts of distortions in that market. i do not want to be in a position of defending andrew cuomo s heading upon hud, when he continually pressed fannie and freddie to make loans to people the that they knew could not pay. i do not want to ignore it judge pose near s very important comments about suburbanization. there is more travel, more pollution from cars. but all has to be in there, but i do not think conservatives can content t