Richard Perry of Perry Capital discusses his views on US Economy and how it can be given boost with the changes in the mortgage market
Here is what he said:
-- QE3 will not prop the economy or create US jobs
-- Fannie and Fredie use to own 90% of the US mortgages issued to average Americans, that has changed, that is not happening now as they are in conservatorship. That has made it difficult for Americans to get mortgages and is stalling the US mortgage market
-- Government should open the mortgage market again and that will have ancillary impacts economy as it will get engineers back to work, construction worker back to work and that will rev up the Economy
-- Owns preferreds of Fannie and Freddie issued by government right before they took them into conservatorship and are now trading at 7c a dollar
Here is the video:
Here is what he said:
-- QE3 will not prop the economy or create US jobs
-- Fannie and Fredie use to own 90% of the US mortgages issued to average Americans, that has changed, that is not happening now as they are in conservatorship. That has made it difficult for Americans to get mortgages and is stalling the US mortgage market
-- Government should open the mortgage market again and that will have ancillary impacts economy as it will get engineers back to work, construction worker back to work and that will rev up the Economy
-- Owns preferreds of Fannie and Freddie issued by government right before they took them into conservatorship and are now trading at 7c a dollar
Here is the video:
