Government Interventions in Financial Markets:Economic and Historic Analysis of Subprime Mortgage Options
"This report summarizes and analyzes four previous government market
interventions (Home Owners Loan Corporation in 1933, Continental Illinois in 1984,
the savings and loan insurance fund shortfall in 1989, and the Latin American debt
crisis in 1989), in light of current mortgage market conditions. Current proposals to
help delinquent homeowners share many features in common with all of these
actions."