AEI’s Subprime Seminar - II
Richard Brown is the Chief Economist of the Federal Deposit Insurance Corporation (FDIC). As such, he is on record as asserting that the subprime meltdown taken by itself is a manageable problem.[1] Therefore, he’s intensely interested in the concept of spillover, the idea that problems in subprime might affect other classes of mortgages. He waited for the very end of the AEI seminar [2] to ask about this, but the responses were illuminating.
