Monday, March 31, 2008

What would Obama and Clinton do?

Two video interviews from Bloomberg. My synopsis:
  • Obama wants to prevent house prices from falling further and give bankruptcy judges discretion to rewrite mortgages which he thinks should restore "confidence" to credit markets. Wants to extend build "new regulatory systems" for investment banks
  • Clinton is much more concrete, promising to "freeze" foreclosures and bail out homeowners directly. Admits she doesn't understand the new securities, but nonethless thinks we need "greater" regulation.
Neither of them thought that house prices have to fall in order to make the housing markets clear so the credit markets clear.

DISCLAIMER: I am supporting McCain.

1 comment:

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