Thursday, December 10, 2009
This is just a quick link to follow -- an "aside." These are links to interesting things that, for one reason or another, I didn't place into a full posting. Click the link to visit the full article. Go to the blog index for a regular listing of posts.
Hot Air: It's official: no one learned anything from Fannie/Freddie collapse - '...If anyone needed any evidence of the absolutely obtuse nature of statist interventionists, Ginnie Mae's recreation of the housing crisis should provide it. At what point in this cycle should someone have said, "Hey, haven't we done this before?" Was it when Ginnie Mae started guaranteeing MBSs for lenders, especially since there are around a trillion dollars' worth of toxic MBSs still on the market? Was it when they started to pressure lenders into making marginal loans while foreclosure rates were already skyrocketing? And now, watch out for the inevitable TARP program to rescue Ginnie Mae and its "guaranteed" MBSs, which will be used to bail out everything but its toxic assets...'
