Friday, March 28, 2008

Containing mortgage rates - I hesitate to endorse this idea

The last time I endorsed an unarguably good idea, the Minister rejected it.

That's why I am wary about endorsing this one.

It is another nobrainer - harnessing the reputation of the Commonwealth to reassure foreign investors that Australian mortgages are of uncommonly good quality.

But what if the Treasurer has about as many brains as the Health Minister appeared to have?

I am worried. The 2020 participant Joshua Gans is the co-author of both.

The other co-author of the mortgage proposal is the impressive Christopher Joye.