Quote of the Day – Bad Loans are good policy?

Calculated Risk: A Policy: Supporting House Prices

“I don’t think it’s a bad thing that the bad loans occurred. It was an effort to keep prices from falling too fast. That’s a policy.”
Barney Frank, chairman of the House Financial Services Committee on recent FHA lending, quoted Oct 9th, 2009 in the NY Times.

Technorati Tags: Barney Frank, House Prices

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