Better that the Fed Regulates Subprime Mortgages

7 Pages Posted: 26 Feb 2008

See all articles by Robert W. Hahn

Robert W. Hahn

Technology Policy Institute; University of Oxford, Smith School

Peter Passell

Milken Institute

Abstract

The late housing boom, in which borrowers largely forgot that prices can go down as well as up, attracted some unsavory brokers and left many consumers facing foreclosure. The Fed is under great pressure to triangulate between Congressional Democrats' desire for New Deal-style regulation and the Bush Administration's opposition to anything labeled consumer protection. While the Fed may be giving too little consideration to the potential costs in attempting to rid the mortgage market of ill-advised loans, the regulations do look reasonable.

Suggested Citation

Hahn, Robert W. and Passell, Peter, Better that the Fed Regulates Subprime Mortgages. Reg-Markets Center Working Paper No. PM 08-01, Available at SSRN: https://ssrn.com/abstract=1097640

Robert W. Hahn (Contact Author)

Technology Policy Institute ( email )

1401 Eye St. NW
Suite 505
Washington, DC 20005
United States

University of Oxford, Smith School ( email )

Oxford
United Kingdom

Peter Passell

Milken Institute ( email )

1250 Fourth Street
Santa Monica, CA 90401
United States

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