01
Sep
11

ULA TDs on mortgage crisis

Write down mortgages in negative equity to true value of the homes

Instead of using the vagaries of the capitalist market as a chance to launch an argument for the need to end this rotten system all we get is recycled Keynesianism from Clare Daly:

“Besides alleviating the threat to people’s home such a policy could serve as a major stimulus as money being poured into overpriced mortgages will instead be spent on goods and services in the real economy.”

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