[FoRK] Federal government will guarantee house values

Russell Turpin deafbox at hotmail.com
Tue Mar 2 20:00:04 PST 2004

If anything is a bad omen, it's this piece of


Essentially, the federal government is underwriting
real estate derivatives. To anyone who remembers
the S&L crisis of the 80s, this reeks like an
exploding whale carcass:


One can only hope this is a one-shot experiment
for upperstate New York, where real estate values
have been depressed, rather than something that
might be applied elsewhere.

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