Joe Grano, a known Wall Street heavy-weight, in an interview on CNBC today calls the recent government solutions to the mortgage and housing crisis “band-aids” and calls for a permanent solution including 50 year mortgages.

Joe Grano discussed many reasons and possible solutions to the financial, credit, and housing market instability. The most intriguing for my money was his suggestion Hank Paulson’s recent legislative solutions were not going to work implying they could not be considered permanent solutions.

Finally I am getting some support for my long standing prediction the GSE’s, Fannie Mae and Freddie Mac, are on the verge of collapse. Tuesday the New York Time publish an article which I believe is the first from a major news outlet to even raise the question of the GSE’s long term viability.

The article stated the worries by saying,

On Friday, the government unemployment report proves a housing crisis created recession is upon us. A housing crisis triggered recession, sadly, I’ve been predicting for years.

This new unemployment report showed Americans out of work for at least six months (called long-term unemployed) increasing - attaining levels more indicative of recession than a “soft landing” or economic “slow down”.