⬆ ⬆ ⬆ ⬆ ⬆ Evidence that supports my position as to both Fannie Mae and Freddie Mac.
Both agencies were corporations and not part of Government.
The law changed was changed by Clinton.
Anyway my aim is to explain this and not be in fights over any of it.
I do know Bush went to Congress perhaps a dozen times asking them to regulate to prevent a crash and they told him no, they would not regulate Fannie or Freddie.
By the way, I created the misconception that only Fannie and Freddie caused the problems. That is not my true position. Subprimes were an old time lending issue but something changed to cause subprimes to be considered as decent a loan to make as a more credit worthy loan was to make. My allegation that is proven is when Freddie and Fannie leaped into the market approving subprimes all kinds of mayhem took place.
This report from Wharton Business speaks of not letting interest rates get low. They are low today. I personally am out of the lending business so do not have my finger on that pulse now. We may run into a crisis of housing sooner than later. Predicting this is like predicting what business Biden will put out of operation next.
As to the elimination of the ancient regulation created in the 1930s, despite Clinton killing that law, and it is still killed off, I see no connection to the law removed by Clinton to events during Bush. Was Bush wrong to want Minorities helped into owning homes? No, he was not wrong to help them own homes.
Misperceptions about the key drivers and impacts of the housing crisis persist — and clarifying those will ensure the same mistakes aren't repeated, Wharton experts say.…Read More
knowledge.wharton.upenn.edu
This article is about the bubble. That is a different issue of course.
