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H.R. 5649, The Home Owners' Loan Corporation for the 21st Century Act (1 comment ↓)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 5649 would establish the Home Owners' Loan Corporation to provide emergency home mortgage relief.
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Robert Cogan, Ph.D.
October 2, 2008, 8:13pm (report abuse)This worked in the Depression. While it has moral hazard for the individuals that overbought, the bailout bill pushed by Congress has more moral hazard for powerful Wall Street firms. It would unfreeze the credit markets and end the market crisis.