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Liquidity Trap

Economic- and Financial-Policy Message of the Week: Barney Frank and Chris Dodd's Vehicle

Alright, all you public-spirited economists seeking to have a positive impact on economic policy...

Barney Frank as House chair and Chris Dodd as Senate chair have a legislative vehicle to guarantee mortgages through the FHA.

Alan Blinder says that it's our best bet right now. I trust Alan Blinder's judgment.

So everybody get on message: back Barney Frank and Chris Dodd in what they want to do, and quibble over the details and implementation later.