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

B6d753c18a5572c19b002fc789d32d2c
January 20, 2022 |
Article
Anyone who’s served on a White House staff, Democrat or Republican, has some sympathy for what President Biden and his team are going through.  ...
4fd50c08895f4dc315f3707335dbec11
January 13, 2022 |
Article
President Biden went down to Georgia Tuesday to deliver an apocalyptic speech about the dangers facing our democracy.  ...
A21b23aa480b72d7bfa2088344ea2a19
January 06, 2022 |
Article
We’re in an acrimonious period of partisan tribalism and have been for some time. ...
8a84d508135becf455343b60f22bd9eb
December 30, 2021 |
Article
It’s time to tally my right and wrong predictions for 2021 and offer fresh prognostications for the New Year. The split was 17½ right to 7½ wrong.  ...
Button karlsbooks
Button readinglist
Button nextapperance