Can’t Live With Them Can’t Live Without Them
The failure of yet another Administration and Congress to conquer the conservatorships does not augur well for constructive policy action anytime soon. However, with so many Obama Administration officials returning to old gigs and, just last week, a new proposal from a powerful advocacy group, we think it more than timely not just to review the utility-model alternative for U.S. mortgage securitization, but also to posit how best to make it work.