On 12/19/2012 8:44 PM, Stephen P. King wrote:
That's a very biases analysis that implies Fannie Mae and Freddie Mac bought subprime
loans, which they did not. It was the banks and private mortgage companies that created
the adjustable rate loans with teaser rates. FM's only bought fixed rate loans with
substantial down payments. The did however buy 'liar loans'. And their very existence
made private lenders assume (correctly) that they would be bailed out. Here's a much
more balanced view of the events:
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