ECONOMIC VIEW
By ALAN S. BLINDER
From the New Deal, a Way Out of a Mess
During the Depression, President Franklin D. Roosevelt and Congress dealt with huge impending foreclosures by creating the Home Owners’ Loan Corporation. Now, a small but growing group of academics and public figures, including Senator Christopher J. Dodd, Democrat of Connecticut, is calling for the federal government to bring back something like the HOLC. Count me in.
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It is said that history never repeats itself. But sometimes there are sequels. Now is the time to re-establish the Incredible HOLC.
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