This should make Arnold Kling feel excellent:

“Buy new with $1,000 down,” the advertisement says, the words resting atop a trim green clapboard house offset by a bright blue sky.


The advertisement references a program initiated by the National Council of State Housing Agencies and Fannie Mae, the taxpayer-backed, government-sponsored enterprise that buys up mortgages from lending banks.

I’m pretty sure this one program offsets the entire financial reform package.

[H/T Ezra Klein]