While Joshua Gans agitates for an AussieMac (an equivalent of the American Fannie Mae and Fannie Mac) and the consequent socialization of the Australian mortgage market, James Grant argues the opposite, that the socialization of mortgages in the name of ensuring liquidity is skewing the market and ultimately a form of rent seeking by the banking industry. It also encourages politicians to deal with the issues by sweeping them under the carpet into the financial lending institutions with public money. (more)
