Jim Parrott, a friend and former colleague, recently left his position of senior advisor for housing policy at the White House. He and I sat down to talk about the recent history of the housing bust, focusing on the government role in meeting and dealing with this massive market failure. Jim was there from the… Read more
Update: you can see the full interview with Jim here. Jim was, until a few months ago, special advisor for housing policy at the White House. The full interview is in the pipeline and should be ready later this week.
Well, well…once again we’re arguing about the role of government. As he did in his second inaugural address, President Obama’s SOTU address reminded listeners that he twice ran and won on a role for government that goes well beyond that articulated by Gov Romney in the campaign or Sen Rubio in his SOTU rebuttal. One… Read more
Remember the Dodd-Frank financial reform law? Remember the Consumer Financial Protection Bureau it created? Perhaps not, given all the sturm und drang over fiscal cliffs and ceilings. But the CFPB is up-and-running and doing good works, as in this case involving realigned housing finance incentives to protect borrowers and to be less bubble-inducing: In the… Read more
Recall this post on how the loss of defined benefit pensions underscores the need to protect our national public defined-benefit pension program: Social Security. Fellow blogger Kevin Drum responds to the post with this interesting look at income trends of older relative to younger households showing the older cohort to be doing much better in… Read more