Comments on naked capitalism: Martin Feldstein Calls a Downturn, Takes Issue Wit...

I thought that even purchase-money mortgages were ...

2008-05-08T15:20:00.000-04:00

I thought that even purchase-money mortgages were only non-recourse in four states - one of them being California, though.

Question.Why don't all these smart guys proposing ...

2008-05-08T09:55:00.000-04:00

Question.

Why don't all these smart guys proposing solutions to "mortgage" problem, club together raise some money and buy up all the problem properties and mortgages?

Scott Frew,Second that. He was defending the polic...

2008-05-08T09:40:00.000-04:00

Scott Frew,

Second that. He was defending the policies of current administration for a long time until recently.

Plus, why is it always the Fed and the system saves the wealthy, and powerful yet ignore ordinary people.

It is crony capitalism, has been this way for a long time.

A.

It might just be me, but I seem to have noticed a ...

2008-05-08T07:57:00.000-04:00

It might just be me, but I seem to have noticed a marked change in Feldstein's willingness to criticize administration economic policy, and to speak freely of economic conditions as he saw them, after he was bypassed for the role of Fed Chairman.

a,I haven't cited Feldstein before for that very r...

2008-05-08T06:15:00.000-04:00

a,

I haven't cited Feldstein before for that very reason. I'm not terribly keen about his reluctance to let the economy take any pain, when it seems there isn't much way of avoiding that.

"For instance, last month he wrote in the Wall Str...

2008-05-08T05:26:00.000-04:00

"For instance, last month he wrote in the Wall Street Journal against further rate cuts, arguing they'd do little to stimulate growth but would be effective fuel for inflation."

If memory serves Feldstein was one of the first chicken littles to advocate cutting rates, to avert recession. Never apologized for taking that position, as near as I can tell.