OMG...Trump picks John Paulson to be on his economic team. JOHN PAULSON!!!

This takes the cake.

Trump picks John Paulson to be on his economic team. Paulson? Economics???

Paulson's the guy who bet big on gold--and lost--because he thought that Fed monetary policy owuld result in hyperinflation. He's like Peter Schiff.

The only reason anyone even knows about Paulson is because he made a ton of money shorting subprime back in 2007. But that's only because he got Goldman Sachs to create a RIGGED TRADE that was guaranteed to make money.

That was the infamous "Abacus Deal" and Goldman eventually admitted to fraud on that and paid a fine. (Of course, a fine, no jail for anyone.)

Trump's a clown. I only support him because I think that is our only chance of keeping out of a war with Russia, however, I am resigned now to the idea that Hillary will be our next president. I only hope she doesn't start World War 3.

FRBSL — Did Affordable Housing Legislation Contribute to the Subprime Securities Boom?

No. In this paper we use a regression discontinuity approach to investigate whether affordable housing policies influenced origination or affected prices of subprime mortgages. We use merged loan-level data on non-prime securitized mortgages with individual and neighborhood-level data for California and Florida. We found no evidence that lenders increased subprime originations or altered pricing around the discrete eligibility cutoffs for the Government Sponsored Enterprises (GSEs) affordable housing goals or the Community Reinvestment Act. Our results indicate that the extensive purchases of risky private-label mortgage-backed securities by the GSEs were not due to affordable housing mandates.

Federal Reserve Bank of St. Louis | Research Division

Did Affordable Housing Legislation Contribute to the Subprime Securities Boom?
by Rubén Hernández-Murillo, Andra C. Ghent And Michael T. Owyang