Over the weekend, the United States government tried to correct one mistake with another: Under intense pressure from foreign governments – especially the Chinese government who are the single largest investor in Fannie Mae and Freddie Mac – Uncle Sam took out its checkbook. With a flourish of the pen, the Treasury nationalized these failing [...]

After recently taking REALTORS to task for advocating more “government backed mortgages” and looser credit limits as the way out for the real estate industry crisis, I thought perhaps I was too harsh on the industry. It’s possible that most REALTORS don’t realize that every time they argue for the government to subsidize un-credit-worthy taxpayers [...]