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What Was The Role Of Fannie And Freddie In The Financial Crisis?
ResumeThe official Financial Crisis inquiry Commission said that the financial crisis was caused by lax regulation, Wall Street greed, and excessive risk taking by investors.
One member of the commission, Peter Wallison of the conservative American Enterprise Institute, sees it differently — Wallison blames government Housing policy for the crisis and says the mortgage lending giants Freddie Mac and Fannie May were responsible fro implementing that policy.
New York Times Business columnist Joe Nocera has picked a fight with Wallison over that interpretation. Nocera says the agencies committed sins but they didn't start the crisis.
- New York Times: The Big Lie
- New York Times: An Inconvenient Truth
- New York Times: To Fix Housing, See the Data
- American.com: Peter Wallison's Response To Joe Nocera
- Wall Street Journal: Peter Wallison On 'Government-Sponsored Meltdown'
Guest:
- Joe Nocera, New York Times business columnist
This segment aired on January 12, 2012.