One consequence of the financial crisis has been the increased concentration of our nation’s mortgage market into government-controlled entities, such as Fannie Mae, Freddie Mae and the Federal Housing Administration (FHA). Government entities currently shoulder almost 90 percent of the credit risk in our mortgage market. With the rescue of Fannie and Freddie already having cost the taxpayer over $180 billion and FHA teetering on the brink of insolvency, it is critical for policymakers to chart a path toward encouraging private market participants to bear that risk. Our panelists will examine obstacles and solutions for bringing private capital back into our mortgage market.
Featuring Holly Bell, Associate Professor (Business), University of Alaska Anchorage; and Hester Peirce, Senior Research Fellow, Mercatus Center; moderated by Louise C. Bennetts, Associate Director, Financial Regulation Studies, Cato Institute.
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In this issue of Regulation, Jonathan H. Adler and Nathaniel Stewart make the case for property-based fishery management, utilizing territorial or catch-share allocation among fishery participants. Also in this issue, Michael L. Wachter explores the relationship between the much-maligned National Labor Relations Act and the decline in union membership.
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