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Dutch Copy Fannie Mae Seen By Blackrock As Taxpayer Risk

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http://www.bloomberg.com/news/2013-10-27/dutch-copy-fannie-mae-seen-by-blackrock-as-taxpayer-risk.html

The Dutch, whose economy is suffering from a housing-market collapse made worse by tighter regulation, plan to issue government-backed mortgage bonds to loosen lending and ensure the country avoids a repeat of the 2008 crisis when credit dried up.

Banks, pension funds and the Dutch government agreed last month to establish a finance company that will buy some of the highest-rated securitized mortgages from lenders with funding from government-guaranteed home-loan bonds. The program would issue at least 50 billion euros ($69 billion) within five years to reduce lenders’ reliance on capital markets for funding.

The Netherlands’ government wants to lure new mortgage providers and investors into a market increasingly seen as among the riskiest in Europe after the Dutch went on a borrowing binge before the financial crisis and housing prices fell 20 percent. The finance ministry is seeking reassurance the bonds won’t put taxpayers at risk and needs the blessing of European Union regulators that the initiative doesn’t break state-aid rules.

House prices the key to economic success. Who needs manufacturing when an unproductive asset can make you all rich. Why don't the Dutch just give their properties London postcodes?

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http://www.bloomberg.com/news/2013-10-27/dutch-copy-fannie-mae-seen-by-blackrock-as-taxpayer-risk.html

House prices the key to economic success. Who needs manufacturing when an unproductive asset can make you all rich. Why don't the Dutch just give their properties London postcodes?

A mate of mine sold his flat Amsterdam 2 years ago...prices were way down and he struggled to sell, he lost a bit and would have been better off renting...that was before it got bad !!!!

There is no recovery...just a load of rich people robbing us off the back of the collapse.

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