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Description: Barney Frank: (~3% down) loans for poor should max at $840K
URL: http://caps.fool.com/Blogs/ViewPost.aspx?bpid=297081&t=01000000000103882559
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2689

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[john p]

Insanity: doing the same thing over and over again and expecting different results.

A. Einstein

[CC]

Why don't we vote this guy out!?

[john p]

Politics are local. In Newton and the surrounding area, the working class were getting gentrified. His policies to help people getting "priced out" aligned with the needs for the voters, but in the end didn't work because the "trickle-down" economics didn't work and people never grew into their mortgages. Yuppies took the place of the working class in Newton. Trickle down economics didn't work because of derivatives and the expanding atmosphere of wealth vapor.

Economically we need a "Solar Still". We need to capture the wealth in derivatives and distill the poisoned assets and collect the pure water and pump that back into the economic body.

[balor123]

Take out the economics and look at the real problems that you have. Manipulating currencies can't solve all problems. You've got X people who want to live in Newton and Y properties where X >> Y. Loans won't solve this problem but increasing Y might.