Matter of Opinion

Wed., Sept. 10, 2008

Letter: Beyond Fannie and Freddie

From Richard Brown's letter today:

The Fannie Mae and Freddie Mac giant mortgage companies are now going to be "rescued" by the government. But not a word is said about preventing a recurrence of this miserable mess.
Two things need to be done right away: (1) make adjustable rate mortgages illegal and (2) guarantee the principal amounts of loans can be repaid at any time the borrower wants to do so. If one of the presidential candidates would adopt this goal, he'd have my vote! But neither of them seems to know what's going on, and they both just endorse the action proposed by our present government.

Do you have any recommendations for the candidates on what they should do as president to prevent a recurrence of the mortgage maelstrom?

Posted Sept. 10, 2008, 9:55 a.m.

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