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Robert Shiller on Why Government Matters

So my proposal is that in the future, mortgages should have a preplanned workout and it should be automatic. As home values fall, the principal should be reduced. Now, this is something that mortgage companies don’t particularly like because it sounds like they’ll lose a lot of money in that circumstance, but I argue that we can price that in.

Read more -> Robert Shiller on Why Government Matters.

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