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: […]
Barney Frank’s Bad Idea
From the Wall Street Journal: Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to “roll the dice” in the name of affordable housing. That didn’t turn out so well, but Mr. Frank has since only accumulated more power. And now he is […]
What Caused The Finacial Crisis?
A lot has been written about greed and mismanagement on Wall Street but that’s only half the story… Make no mistake greed and mismanagement played their part but so did government intervention and regulatory policy and that’s the largely untold story: Related Speaking of doom, what if Obama only makes it worse? – John Ibbitson, […]
A National Crisis???
Things have been a little hectic over the last few days so I didn’t have time to get to a couple of articles I had bookmarked. One of the things that seems to be getting lost in all the hysteria about the Mortgage crisis is that bluk of the problem are concentrated in 4 or […]