Your Universal Remote Control Center
RemoteCentral.com
Custom Installers' Lounge Forum - View Post
Up level
Up level
The following page was printed from RemoteCentral.com:

Login:
Pass:
 
 

Original thread:
Post 200 made on Saturday July 30, 2016 at 11:15
BigPapa
Super Member
Joined:
Posts:
October 2005
3,139
On July 30, 2016 at 04:20, highfigh said...
If FannieMae/FreddieMac hadn't screwed the pooch, Wall Street would never have done what caused the collapse. Barney Frank's mantra was "I don't see a problem"- now, why would he see a problem? It was in his interest to NOT see a problem.

Don't kid yourself- the media is complicit in all of the mis-direction and drawing attention away from events that should be front and center.

More mis-direction. The Pavlovian urge to blame government and an opposing ideology is what's driving the willful ignorance and efforts to flip the narrative. The removal of regulation allowed a hypercommoditization of debt, a pyramid scheme of securities based debt, until it all came crashing down. This is what educated people know and what motivated ideologues reject.

For the Last Time, Fannie and Freddie Didn't Cause the Housing Crisis

In his article for The Atlantic, Peter Wallison claims that Rep. Barney Frank played a major role in causing the financial crisis, by pushing for affordable housing goals in 1992 on the mortgage market entities Fannie Mae and Freddie Mac, which enjoyed government backing. This line of attack is consistent with the argument that  Wallison has pushed in a multitude of other venues, most notably in his Financial Crisis Inquiry Commission dissent, in which Wallison claims that federal affordable housing policies were the primary cause of the financial crisis. To understand why Wallison's argument has been rejected by many analysts, including by all nine of his fellow commissioners on the FCIC, it is helpful to recall a few facts that he conspicuously omits from his interview with the Atlantic.

Quit blaming 'the media' and regurgitating narratives from the American Enterprise Institute and other 'think tanks' that should be called 'tell you what to think tanks.'


Hosting Services by ipHouse