The Housing and Financial Meltdowns Revisited – Reason.com

The result of this and related policies? “At the time of Lehman’s failure [in 2008],” Wallison writes, “half of all mortgages in the U.S.—28 million loans—were subprime or otherwise risky and low-quality. Of these, 74% were on the books of government agencies, principally the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.”

via The Housing and Financial Meltdowns Revisited – Reason.com.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.