WaPo: Fannie and Freddie don’t deserve blame for bubble.
“If Fannie Mae and Freddie Mac are responsible for the debacle, then perhaps government’s role in a future mortgage finance system should be minimal. But if private lenders deserve most of the blame, the case grows for giving government an important role in backstopping and overseeing the system.” I sort of bristle at binary ‘either/or’ thinking. There’s a better balance that would be created by greater regulation and plain old ‘policing’ of the financial system.
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