The Treasury is considering whether it can help grease the wheels of the mortgage market. Sir James, thank goodness, has already ruled out the creation of state-backed mortgage lenders, based on America\’s Fannie Mae and Freddie Mac. (I can\’t imagine anyone seriously thinks this would be a good idea, given the mess they are in.)
Will Hutton was calling for the creation of such only a month ago.
Well done Willy!