Went to see the movie The Big Short. Pretty well done. It will help Bernie and his war against Wall Street. But, as usual with Hollywood, there are a few pieces left out. The roles of the government- owned and controlled mortgage insurers Freddie, Fannie, and the FHA were left out. Of course, without their guarantees none of the bad Read the full article…
Let’s see, the only compelling reason is to prove government does it better. How is government doing? Mortgage loans. Freddie, Fannie, and the FHA were the true culprits in the housing bubble. If banks had to take the risk for the shaky mortgages they wrote, they would have written far fewer. And, if you recall Read the full article…
If you wanted to create a housing bubble, what would you do? First, have a president like Bill Clinton say “owning your own home is a basic right in America”. Then you put in place lending organizations that will make that happen. Like Freddie, Fannie, and the FHA. Government run institutions that will buy any bogus mortgage Read the full article…
