1. Crony Consumerism.
- Author
-
WEISER, JAY
- Subjects
- *
CONSUMER credit , *HOUSING finance , *CREDIT , *POOR people , *FINANCE , *GOVERNMENT policy - Abstract
The author criticizes what he calls crony consumerism, or the practice of the federal government providing for easier access to credit to lower-income people in the belief it will promote economic activity while reducing poverty. Among examples he cites are policies of the U.S. Federal Housing Administration that contributed to the near-insolvency of the government-sponsored financial enterprise Fannie Mae in the 1980s.
- Published
- 2014