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March 5th 11, 08:56 AM
posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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Fannie Mae & Freddie Mac : Millions In Executive Bonuses To Managers
On Mar 4, 5:21Â*pm, dave wrote:
?baMa? Tse Dung wrote: Separating economic myth from economic fact Myth 1: The government-sponsored housing finance companies Fannie Mae and Freddie Mac had nothing to do with the housing crisis. They were simply innocent bystanders caught in the crossfire. Economist and New York Times columnist Paul Krugman, for instance, has argued that Fannie and Freddie s role in the housing market was insignificant between 2004 and 2006 because they pulled back sharply after 2003, just when housing really got crazy. According to Krugman, Fannie and Freddie largely faded from the scene during the height of the housing bubble. Fact 1: Fannie and Freddie contributed to the housing crisis by making it easier for more people to take out loans for houses they could not afford. Beginning in 2000, Fannie and Freddie took on loans with low FICO scores, loans with low down payments, and loans with little or no documentation. Fannie Mae is a loan guarantor. She doesn't make loans. Investment banks crashed the economy. Blame it on Phil Gramm and Bill Clinton, and "W" for looking the other way. |
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