The New Deal Mortgage System and the Failure of Bullnomics

The Era of Market Triumphalism Is Over By Frank Schiavone “I feel that in some small way we are doing something important. Satisfying a fundamental urge. It’s deep in the race of man to want his own roof and walls and fireplace, and we’re helping him get those things in our shabby little office.” - George Bailey (It’s a Wonderful Life) The fully amortized, long-term mortgage is a...