Friday, March 26, 2010

The Depressing Scenario Comes True

Almost a year and a half ago, I wrote "A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance" about how unemployment could, in theory, become a ticket to free housing.

This week the Obama Administration made that scenario come true (Treasury link).

1 comment:

Sheng said...

I never doubt this. He never respects economists' good advice. He may be intelligent and knowledgeable, particularly in politics, but he does not know economics.