Monday, July 14, 2008

Fannie Mae Retrospective

In response to all those screaming about what a surprise (and disaster) Fannie Mae and Freddie Mac are, and then using this as evidence of "market" failure, I offer this WSJ retrospective showing that the GSE's are essentially public not private entities and that the problems aren't a surprise to anyone. (Though undoubtedly politicians feign surprise both to absolve themselves of responsibility and in order to ramrod new regulations through Congress.)

1 Comments:

Anonymous Jim May said...

Who is calling this "market failure"?

Anyone and everyone doing so should be informed that they do not know what they are talking about, and that they should consider learning it.

7:50 PM  

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