October 4, 2008

Home Mortgages: Should The Government Buy Them Back?

New York Senator Hillary Clinton thinks the federal government should establish a special entity that would buy back mortgages from Americans and later sell them, similar to what happened during the Great Depression.

Congress set up the Home Owners' Loan Corp in 1933 to help stave off home foreclosures amid the economic downturn that followed Wall Street's crash in 1929.

What do you think? Do you agree with this idea? Or do you think it's just digging the U.S. Government even deeper into a deficit that it will never get out of? We'd love to hear your feedback on this topic. Just click the comment link below and tell us if you agree or disagree with this plan…

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