The Financial Services Roundtable (FSR), a leading lobbyist for the financial services industry, has released a statement titled “Heritage Dismissal of Importance of the 30 Year Mortgage for Modest Income Americans is misguided.” As intriguing as the title sounds, Heritage has not dismissed the importance of the 30-year mortgage.
In fact, the Backgrounder that has the FSR upset points out that government policies should not favor any type of mortgage precisely because a stable home mortgage market is so important. The core argument of the paper is that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are not necessary to preserve the 30-year mortgage.
The evidence: These mortgages already exist separately from the GSE system without any form of government backing. As we argue in the Backgrounder, the best way to protect home mortgages is to get the federal government out of the U.S. housing finance market. More government guarantees would only lead to more risk and less stable financial markets.
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Today, even with President Trump’s victory, leftist elites have their tentacles in every aspect of our government.
The Daily Signal’s own Tyler O’Neil exposes this leftist cabal in his new book, The Woketopus: The Dark Money Cabal Manipulating the Federal Government.
In this book, O’Neil reveals how the Left’s NGO apparatus pursues its woke agenda, maneuvering like an octopus by circumventing Congress and entrenching its interests in the federal government.
You can read the first chapter of this new book for FREE in this eBook, The Woketopus: Chapter One using the secure link below.
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