Wall Street Sank Freddie and Fannie
Wall Street dominated the subprime market, which crashed the credit market, which crashed the asset values of Freddie and Fannie, obliterating their (very thin) capital bases and leading us to this moment.
Listen, you'll get no elegies from me for these government-sponsored candy stores. It's clear they used their taxpayer-supported advantages in the financial markets to keep their regulators at bay and buy protection from Congress. That ...
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