Politicians love to blame the financial crisis and by extension the recession on greedy bankers, but as the Wall Street Journal notes today many of them, like New York Attorney General and former Clinton Administration Secretary of Housing and Urban Development Andrew Cuomo have much to answer for: With his fraud lawsuit last week against [...]
WSJ: Andrew Cuomo has more to answer for than does Bank of America
February 8, 2010 By Leave a Comment
Anatomy of a Crisis: The Fannie Mae and Freddie Mac Debacle
July 7, 2009 By Leave a Comment
Republican members of the House Committee on Oversight and Government Reform have released a report analyzing the role of the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac, in the housing meltdown. You can read the full report here, but here are the highlights: Political pressure led to the erosion of responsible lending practices: [...]
Is More Spending the Answer to Our Economic Problems?
April 8, 2009 By Leave a Comment
I mentioned last week that the Government and Federal Reserve had spent, lent or committed $12.8 trillion, here’s video from stopspendingourfuture.org that helps put that in perspective: In short, we have spent more bailouts than we did on World War 2!
WSJ: Congress Whitewashing Fannie and Freddie
December 11, 2008 By Leave a Comment
With all the buzz about the Feds corruption probe of Gov. Illinois Rod Blagojevich it’s easy for things like this Wall Street Journal column to be missed. Whitewashing Fannie Mae Congress begins its self-absolution campaign. Henry Waxman’s House Committee on Oversight and Government Reform met Tuesday to examine “The Role of Fannie Mae and Freddie [...]
An Open Letter From Steven Horwitz
October 13, 2008 By Leave a Comment
Economist Steven Horwitz published this open letter on September 28, 2008, if you haven’t read it you should. My friends, In the last week or two, I have heard frequently from you that the current financial mess has been caused by the failures of free markets and deregulation. I have heard from you that the [...]
Credit Crisis: Chris Shays Comes Out Swinging At Congress
October 7, 2008 By Leave a Comment
Democrats in Congress may not want to talk about their roll in causing the subprime meltdown by refusing to regulate Fannie Mae and Freddie Mac but Rep. Christopher Shays (R-Conn) does: H/T: Hot Air.
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