Richard Peisser, a professor of real estate (whatever that means) at Harvard, argues against a moratorium on foreclosures.
I’m not saying I favor a moratorium–as if my opinion matters all that much, but I have a website and I’m going to use it–but this seems to me like arguing against traffic cops because they might slow down the speeders.
Someone realizes that there’s more riding on this than the bonus for some bankster who already has two or three houses. From Bloomberg (emphasis added):
The new rule, released in a statement by the New York state Unified Court System, is effective immediately.
“We cannot allow the courts in New York State to stand by idly and be party to what we now know is a deeply flawed process, especially when that process involves basic human needs — such as a family home — during this period of economic crisis,” (Chief Judge Jonathan–ed.) Lippman said in the statement.