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CATO CEO Says Free Markets Are the Answer

September 26th, 2012 1 comment
alison-john-cato-ceo-credit-united-liberty-posted-mhpronews.com-daily-business-news-The CATO Institute’s CEO, John A. Allison, is making the case that free markets not government are the solution to what caused the banking crisis. In his book,”The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy’s Only Hope.” In a column to AB, Allison states that: “Many life insurance companies and other investors like having government guarantees on their assets (via Freddie, Fannie, or the FHA). However, this is very destructive public policy because it pushes the risk to taxpayers and not market participants.” Alison also said, “A major component of the solution will be provided by existing commercial banks that retain home mortgages in their portfolios the way the S&Ls did. One of the few major economic systems to have limited problems as a result of the financial crisis is Canada. One reason the Canadian banks did relatively well is that they portfolio home mortgages. While there are some housing subsidies in Canada, the banks do not have to compete with the government, that is, Freddie, Fannie, and the FHA. Also, since the banks were holding the mortgages on their books, they cared about the credit risk and underwrote the risk rationally.”
(Photo Credit: United Liberty)

Prefab Steel House Slated to be Shined

November 8th, 2011 Comments off

ConnecticutCollege reports its steel prefabricated house in New London, CT, manufactured by General Houses, Inc., of Chicago will be disassembled and shipped to Milner + Carr in Philadelphia, where each panel will be cleaned and restored. Built in 1933 for Winslow Ames, founding director of the New London Lyman Allyn Art Museum, it was gifted to the school in 1949, and occupied as faculty housing until 2004. With grants from the state and private sources, the panels will be made rust resistant, and the building will be reassembled in the spring on campus and used for student-centered activities relating to sustainability and the environment. Another prefabricated house on campus was restored in 1990. The steel house is a very early example of modern architecture in the United States,” said Abigail Van Slyck, associate dean of the faculty and the Dayton Professor of Art History at Connecticut College. “These houses are rare, and this restoration project will ensure that we don’t lose this important piece of American history. Both of the College’s prefabricated houses were built to be single family homes, and they have very small footprints,” Van Slyck said. “They can serve as inspiration for green living.”

(Photo credit: Connecticut College)