FreedomWorks Foundation will be hosting a Capitol Hill policy luncheon
on the subprime bailout issue featuring its Chief Economist Dr. Wayne
Brough and Dr. Todd Sinai of The Wharton School at The University of
Pennsylvania. The event is Monday, March 24th from 12:00pm until 1:30pm
in B-354 Rayburn House Office Building. Lunch will be provided. The
topic for the luncheon is The Mortgage Crisis: Understanding the Impacts
of Subprime Relief Programs.
Prof. Sinai is a nationally known expert on real estate economics and
housing bubbles, and the author of a recent paper released by
FreedomWorks Foundation entitled The Inequity of Subprime Mortgage
Relief Programs.
FreedomWorks Foundation President Matt Kibbe commented, “The
bursting housing bubble and subsequent increase in subprime mortgage
defaults are a concern in Congress. Many policy proposals unfortunately
involve significant new federal involvement in lending and housing
markets. Is a political intervention that rewards speculative or
high-risk decision-making and punishes responsible decision-making
warranted?
“FreedomWorks Foundation believes that the
market needs to be allowed to reprice mortgage loans and property
values, and the government should not exacerbate the situation with
policies that create moral hazard, distort prices, and push costs onto
taxpayers. Our luncheon will examine the trade-offs inherent in these
different policy approaches.”
For more information about the luncheon, please contact FreedomWorks
event coordinator Nan Swift at nswift@freedomworks.org
or 202-942-7675.
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