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 Benjamin H. Friedman, Research Fellow in Defense and Homeland Security Studies, Cato Institute; Spencer Ackerman, Senior Writer, WIRED Magazine; and Julian Sanchez, Research Fellow, Cato Institute; moderated by Laura Odato, Director of Government Affairs, Cato Institute.
Featured PublicationWe are grateful to the Harry and Lynde Bradley Foundation and the Carthage Foundation whose support of the October 2012 Cato Conference “Europe’s Crisis and the Welfare State: Lessons for the United States” made possible this special issue of the Cato Journal.
Featured BookRenowned development economist Deepak Lal draws on 50 years of experience around the globe to describe developing-country realities and rectify misguided notions about economic progress.
More Bang for Your Buck
The Cato Institute tops a new measure of think tank performance in the United States, according to a recent report. Cato bested all other U.S. think tanks in the main category of “Aggregate Profile per Dollar Spent.” “I’m grateful to the Center for Global Development for showing that Cato gives its sponsors something I wish government gave more of to taxpayers: bang for the buck,” said Cato CEO John Allison.