gage:
Mort
mned
onde
C
Keep Out!
With officials in
Southern California
contemplating
eminent domain to
rid homeowners of
negative equity, the
debate over this new
and controversial
resolution has turned
feverish.
With Robert Hockett
and Edward Pinto
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C
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T
R
Robert Hockett teaches financial and business law
subjects at Cornell Law School, where his research and
writing focus on the legal and institutional prerequisites
to a just and prosperous economic order. He is also a
fellow at The Century Foundation, a commissioned
author for the New America Foundation, and consultant
to a number of financial institutions, regulators, and
legislators. One firm he advises is Mortgage Resolution Partners, the newly
formed municipal advisory group that brought the idea of invoking eminent
domain to San Bernardino authorities. The group's proposal originated with
ideas put forth by Hockett.
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S
»
Edward Pinto held various senior-level positions at
Fannie Mae from 1984 to 1989, culminating with his
role as chief credit officer for the GSE. Currently, he is
a resident fellow at the American Enterprise Institute
(AEI). He has done groundbreaking research on federal
housing policies and the government's promotion of
the high-risk loans that triggered and deepened the
mortgage meltdown and ensuing financial crisis. Two of his major research
papers are cited in the Financial Crisis Inquiry Commission's final report. At
AEI, Pinto continues this research and is examining policy considerations and
options for rebuilding America's housing finance system.
