Dawn Kopecki Archive

Four-Year-Old Got Homebuyer Tax Credit, Treasury Says

[Skip to the end] Thanks, this type of thing fuels the ‘govt can’t do anything right’ constituency. I’m always careful to make proposals that minimize incentives for fraud and abuse, and also minimize the amount of regulation and supervision needed to ensure compliance. Hence, I’ve proposed the payroll tax holiday and per ...Read More

Here we go…

[Skip to the end] Giving them a quantity target rather than a price target can mean overpaying to meet their mandated buying requirements. This is a direct fiscal transfer to the sellers of the ‘overpriced’ securities without the compensation or equity costs associated with the TARP. Fannie, Freddie to Buy $40 Billion ...Read More

Bloomberg: Thoughts on Treasury plan

[Skip to the end] My take is an RTC type solution only works when the government owns the institutions, so this will probably be different. I suspect it will be more like Japan, where the government bought a new class of preferred stock in the banks to add capital. Whatever they will ...Read More