$3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market, Oracle of Wall Street says Yahoo Finance

Image for article $3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market, Oracle of Wall Street says Yahoo Finance
News Source : Yahoo Entertainment

News Summary

  • Meredith Whitney, the one-time "Oracle of Wall Street," predicted the Great Financial Crisis
  • Freddie Mac asked its regulator last month to enter the secondary mortgage market, or home equity loans
  • Such borrowing can be used for things like vacations, weddings, new cars, investments
The U.S. housing market is harboring the potential for unprecedented economic stimulus that wouldnt require any federal spending, according to Meredith Whitney, the onetime Oracle of Wall Street wh [+2836 chars]

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