Sorting out the details of the response will be messy but the principles are now clear and policy is forming around them. First, address illiquidity in the market for mortgage-backed securities. Second, inject public capital on a huge scale, drawing in new private capital at the same time. Third, revive the inter-bank market with temporary guarantees. Fourth, especially in the US, step up efforts to slow mortgage foreclosures, to relieve the distress and stop house prices undershooting.
The Puzzling Law and Economics of Out-of-State Tuition
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Bryan Caplan has a good post on out-of-state tuition: [State schools]
almost always charge students from their own state much lower tuition. In
the most ...
1 hour ago
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