All Posts Tagged With: "subprime"
Who Watches Our Guardians?
Predictably, the leading inquisitors into the causes of the financial turmoil are themselves among the most culpable: Rep. Barney Frank, Sen. Chris Dodd, and New York Attorney General Andrew Cuomo. AIG got into trouble because it in effect wrote insurance policies (credit default swaps) against the failure of securities based on mortgages, many of which were waiting to blow up when the housing bubble burst. Who created the housing bubble?
21May2009 | Sheldon Richman | 1 comment | ContinuedU.S. Housing/Finance Policy
From the ridiculous to the subprime.
4May2009 | Sheldon Richman | 0 comments | ContinuedBarney Frank Gets a Little Heat
Rep. Barney Frank, one of the most vigorous advocates of using Fannie Mae and Freddie Mac to encourage subprime mortgage lending, got a little hot under the collar yesterday when a Harvard student asked if he was willing to accept any responsibility for the financial crisis, which has its roots in a housing policy based [...]
8Apr2009 | Sheldon Richman | 1 comment | ContinuedTGIF: Crocodile Tears over AIG
If politicians spill any more crocodile tears over AIG, the EPA might have to declare Washington, D.C., a protected wetland. Sweep aside the phony expressions of “outrage” over AIG’s government-financed $165 million in bonuses (the information was in black and white) and ask yourself this: Who supplied the money? The rest of this week’s TGIF [...]
20Mar2009 | Sheldon Richman | 0 comments | Continued-
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