FDR Solves the Mortgage Crisis
Print
Email
"Here should be an objective of Government itself, to provide at least as much assistance to the little fellow as it is now giving to the large banks and corporations."--Franklin D. Roosevelt, April 7, 1932
The burgeoning home-mortgage crisis of 2007 bears an eerie resemblance to financial conditions 75 years ago, when FDR realized that only the U.S. government could forestall a wave of home foreclosures by directly helping "the little fellow." Today, homeowners can only hope that something akin to Roosevelt's New Deal answer to the home-loan crisis of the 1930s--direct lending to homeowners--is embraced by policymakers once again.
Read more here.This article was originally published in The New Republic.
To speak with our experts on this topic, please contact:
Print: Suzi Emmerling (foreign policy and security, energy, education, immigration)
202.481.8224 or semmerling@americanprogress.org
Print: Jason Rahlan (health care, economy, civil rights, poverty, judiciary, open government)
202.481.8132 or jrahlan@americanprogress.org
Radio: John Neurohr
202.481.8182 or jneurohr@americanprogress.org
TV: Andrea Purse
202.741.6250 or apurse@americanprogress.org
Web: Erin Lindsay
202.741.6397 or elindsay@americanprogress.org
Site-Wide and Issue-Specific RSS Feeds