Articles

President Bush Tried to Rein In Fan and Fred

January 07, 2009

Mythmaking is in full swing as the Bush administration prepares to leave town. Among the more prominent is the assertion that the housing meltdown resulted from unbridled capitalism under a president opposed to all regulation.

Like most myths, this is entertaining but fictional. In reality, Fannie Mae and Freddie Mac were among the principal culprits of the housing crisis, and Mr. Bush wanted to rein them in before things got out of hand.

Rather than a failure of capitalism, the housing meltdown shows what's likely to happen when government grants special privileges to favored private entities that facilitate bad actors and lousy practices.

FULL ARTICLE: http://online.wsj.com/article/SB123137220550562585.html

Related Article

948c8339ae959a97dd3e6beee35e2615
January 21, 2021 |
Article
President Joe Biden’s inauguration marks not only a new administration’s beginning but also a new chapter for the loyal opposition. ...
39e9b8e529613abe27a034672cfe866f
January 14, 2021 |
Article
Donald Trump won’t be the first president to skip his successor’s inauguration ...
08d26c05f5ccdd4351fb72440b267873
January 07, 2021 |
Article
President Trump may have been correct at his Monday rally when he said of Georgia Republican Sens. David Perdue and Kelly Loeffler : “If they win I’ll get no credit, and if they lose they’re going to blame Trump.”  ...
F1546fb0fd9065f7ed7f4cc940e27eff
December 31, 2020 |
Article
Let’s bid farewell to a horrible year by reviewing my 2020 predictions and offering prophecies for the coming year. ...
Button karlsbooks
Button readinglist
Button nextapperance