The Muse Temporarily Abandoned Me
I won't fool you, I don't have a lot I want to
say this week. The muse has wandered away from me.
Boston and all that goes with it left
me pretty empty. I really can't add anything beyond what I said up
top.
On the other hand, the Senate's gutless
gun registration vote just angered me. The political cowards.
Nobody discussed anything about “gun
confiscation,” but that didn't stop the crazies—mainly but not
exclusively on the Right—from whipping enough enough votes to stop
a bill to register guns sales from moving forward and, maybe, make
it a little tougher for some bad people to get guns.
The GOP and their allies spun all sorts
of grotesque arguments against a simple bill which could have had a
major impact on Internet and gun show sales.
Recently, I was at a local
establishment (casino) along side two gun advocates, one of whom was a gun dealer who worried about the impact of
registration on his “machine gun” collection (we were in Maryland, so state law got him when Washington failed). Barely prompted, he
strung together a wild fantasy of gun registration leading to the “Feds”
trying to stop cigarette smokers or others they deemed socially
unworthy. It was like he was on acid and imagining demons everywhere.
People like him across the country leaned on their Senators to deny a vote on the legislative substance.
Mark Zandi and The Fannie/Freddie
World
Back to a little bit of reality.
I want to reverse the blog a bit and
have you tell me some stuff which could happen, if.......!
Let's wave the proverbial magic wand
and assume two things, the first is that Mark Zandi well known
economist, reportedly a registered D who counseled John McCain's
presidential campaign, gets the nod from the Obama Administration to
head the Federal Housing Finance Agency (FHFA) and becomes Fannie
Mae's and Freddie Mac's latest regulator.
Is he a big bank or Wall Street stooge,
as some suggest, or a silent liberal intent on embedding Uncle Sam deeper in
the mortgage finance system? Or, is he just a smart, rich guy who has
some time to spend on the mortgage Gordian Knot?
Since the original buzz, there hasn't
been much on this possible appointment, but that could be because of
the intervening events which demanded our national attention.
Initially, there was some talk that
Zandi has some strong ideas about reorganizing the nation's secondary
mortgage market—which means it's primary market, too—and has
hopes to implement those plans, as he oversees Fannie, Freddie, and
the Federal Home Loan Bank System, which people need reminded is part
of his portfolio.
The story goes that Zandi might want to
do this mostly via regulation, not legislation, because presumably
this Congress can't agree on much including whether to do away with
or employ Fannie Mae and Freddie Mac in some future incarnation.
So let me ask, readers, what do you
think Zandi—if he gets the post—does or tries to do??
You can write your answer to my blog
“Comments” section and share them with other readers or send them
to me at either of the email addresses which grace your “New Blog
Out” message. I'll try to summarize in future blogs—without
identification if that is your choice--what you recommend. blogs.
Fire away at what you think Mark Zandi
might try and do, if he succeeds Ed DeMarco as the new head of the
Federal Housing Finance Agency and how willing this Congress may be
to cooperate and let Zandi try policy innovation??
Maloni, 4-22-2013
Bill - my sympathies with you on both Boston and guns.
ReplyDeleteI have listened to much of the public CSPAN interviews of Zandi - he has made it a point that government should be involved in mortgage market. An academic approach, but i think he means it.
That means many in the GOP will make Zandi's life difficult.
ReplyDeleteI know what the Republicans claim they dislike, but I have yet to see a coherent GOP mortgage system plan for what it wants.
OK, the federal government disappears and its support leaves the system. Then who does what with/for whom and under what rules, if any??
I think Zandi is immaterial to the discussion. Whatever policy or plan is argued for, at some point some committee will ask; So, how would this have changed anything pre-2009?
ReplyDeleteSince nothing except the treasury's printing press could ever withstand the damage of a sudden 25% drop in RE, the same scenario, albeit with different characters, would repeat itself.
If I were Zandi, I would only take the job if the WH fully backed my plans to reform the mortgage markets.
ReplyDeleteAs I indicated earlier, his only chance for success is to use the FHFA regulatory authority aggressively and let the Republicans play"catch up".
Without strong backing form the WH for his plan of action, the job is not worth taking.
A related issue, what is this WH strategy of floating names for appointments so that the Republicans can attack prospective appointments?
This is the most incompetent WH in recent history. How a bright guy like Obama can perform so poorly in the game of Washington politics is beyond comprehension.
If I were Zandi, I would only take the job if the WH fully backed my plans to reform the mortgage markets.
ReplyDeleteAs I indicated earlier, his only chance for success is to use the FHFA regulatory authority aggressively and let the Republicans play"catch up".
Without strong backing form the WH for his plan of action, the job is not worth taking.
A related issue, what is this WH strategy of floating names for appointments so that the Republicans can attack prospective appointments?
This is the most incompetent WH in recent history. How a bright guy like Obama can perform so poorly in the game of Washington politics is beyond comprehension.
If I were Zandi, I would only take the job if the WH fully backed my plans to reform the mortgage markets.
ReplyDeleteAs I indicated earlier, his only chance for success is to use the FHFA regulatory authority aggressively and let the Republicans play"catch up".
Without strong backing form the WH for his plan of action, the job is not worth taking.
A related issue, what is this WH strategy of floating names for appointments so that the Republicans can attack prospective appointments?
This is the most incompetent WH in recent history. How a bright guy like Obama can perform so poorly in the game of Washington politics is beyond comprehension.
Many critical observers, D and R, have ripped the Obama Administration for most its five years--with cause--for political missteps.
ReplyDeleteI suspect--unfortunately--that pentient won't change.
If he still is a candidate, Zandi intelligence and record might earn him a chance from the Senate R's (Maybe McCain would be his political "Rabbi"), but he faces the intransigence, I so often have commented on, based on marginal understanding of the markets and what can work.
Go back to my final comment in the first answer to that "Anonymous" and maybe someone can tell me what form the ideal GOP mortgage market would take.
By "ideal" I mean a mortgage market that can efficiently and effectively serve as well as the current structure, flaws and all, seems to serve the nation.
There is no "ideal" scenario, Bill. Either the govt is going to continue the fixed 30/yr entitlement, or they're going to hand the thing over to Wall Street. It is that black and white.
ReplyDeleteThe govt can't have its cake and eat it too. It either dictates policy and guarantees the stuff, in which case F&F are as good a solution as any, or it keeps its mitts off.
Gee, you must read Maloni's blog!
ReplyDeleteI realize that simple fact, but I don't think it is apparent to a lot of Hill types who will make the policy calls.
Or, if it is clear to them, they are awfully silent.
What's up to every body, it's my first pay a visit of this web site; this blog includes remarkable and really fine
ReplyDeletematerial designed for visitors.
My site http://www.vigrxenhancer.com
What Anonymous 5:41 AM said. So Zandi, no-Zandi is irrelevant.
ReplyDeleteBut if he has a say he will stop short of any big change. One thing are big proclamations from the bench. A different story is executing them. And even more problematic, to be the excutioner. Big texan hat with no cows.
Millstein's new plan:
ReplyDeletehttp://www.investorvillage.com/smbd.asp?mb=5494&mn=1033&pt=msg&mid=12741480
The reasons why none of us is bringing up swimwear and accordingly the things that you should accomplish today. [url=http://high-waisted-swimwear.webnode.com/]women swimwear[/url] What the consultants won't be actually saying on the subject of swimwear and ways it is affecting you. [url=http://discount-swimwear.webnode.com/]women swimwear[/url] The particular way to comprehend pretty much everything there is to know concerning swimwear in three very easy steps. [url=http://modest-swimwear8.webnode.com/]modest swimwear[/url] The latest guideline reveals the information for swimwear and in addition the reason why you have got to take action straight away. [url=http://blanca-swimwear.webnode.com/]vintage swimwear[/url] The ways to learn every aspect there is to find out relating to swimwear in Seven easy steps. [url=http://girls-swimwear0.webnode.com/]women s swimwear[/url]
ReplyDeleteWhatever the specialists won't be mentioning in relation to swimwear and in what ways this has an effect on you. [url=http://string-bikini.webnode.com/]string bikini[/url] What industry professionals are never thinking on the subject off swimwear as well as how this affects you. [url=http://mini-bikini.webnode.com/]thong bikini[/url] Hmm, awesome solution. Your corporation gotta consider swimwear now when it's still in store : ) [url=http://swimwear-bikinis.webnode.com/]swimwear[/url] Your main swimwear-rivals Does not Want You To Read The following facts [url=http://women-bikinis.webnode.com/]women swimwear[/url] Those things Every customer Need To Know Regarding The swimwear Internet business [url=http://plus-size-swimwear3.webnode.com/]plus size swimwear[/url]
How come absolutely no one is preaching about swimwear and the things you should complete right away. [url=http://high-waisted-swimwear.webnode.com/]freya swimwear[/url] Whatever the industry professionals are never speaking in relation to swimwear and also how it is affecting you. [url=http://discount-swimwear.webnode.com/]women swimwear[/url] Tips on how to learn just about everything there is to find around swimwear in three easy ways. [url=http://modest-swimwear8.webnode.com/]designer swimwear[/url] Beginner publishing divulges the information over swimwear and as well as reasons why will need to take action right now. [url=http://blanca-swimwear.webnode.com/]vintage swimwear[/url] Here is how to fully understand all the details there is to find out around swimwear in 2 basic steps. [url=http://girls-swimwear0.webnode.com/]mens swimwear[/url]
ReplyDeleteWhat the industry experts generally are not stating surrounding swimwear and the way it is relevant to you actually. [url=http://string-bikini.webnode.com/]mini bikini[/url] Whatever the specialists generally are not proclaiming surrounding swimwear along with the way this impacts on you actually. [url=http://mini-bikini.webnode.com/]thong bikini[/url] Ok, wonderful service. You have to check out swimwear today while it's still in stock ! ! ! [url=http://swimwear-bikinis.webnode.com/]bikinis[/url] Most of your swimwear-rivals Doesn't Want You To Find Out This [url=http://women-bikinis.webnode.com/]women swimwear[/url] Those things Everybody Should Know Concerning The swimwear Web business [url=http://plus-size-swimwear3.webnode.com/]plus size swimwear[/url]
Read More Here tramadol addiction methadone - tramadol ultram medication
ReplyDelete