delong.typepad.com - 11/20/2008
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Once again, Richard Green's refutation of the right-wing hack claim that Fannie and Freddie caused the crisis by leading poor private-sector financiers to make stupid loans:
Richard's Real Estate and Urban Economics Blog: Charles Calomiris and Peter Wallison blame Fannie Mae for the ...
krugman.blogs.nytimes.com - 11/17/2008
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krugman.blogs.nytimes.com —
So I was listening to Arnold Schwarzenegger before
doing the This Weak round table, and he was
mostly making sense - except for one thing. He asserted, as a simple matter of fact, that "government created the housing bubble", because Fannie and ...
(more)
Fannie Freddie Phony
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The Progress of the Financial Crisis in One Picture: Mortgages, Flight to Safety, Credit Lock
Econbrowser —
... interconnected. Brunnermeier (2008b) discusses the possible direction of future financial regulation using measures of risk that take these domino effects into account.
(As an aside, I'll observe that in this paper, Fannie and Freddie do not make appearances as "causes" of the crisis. I wonder who has an interest in pushing the view of Fannie and Freddie as betes noire. For more recent critiques of the "F&F; caused it" meme, see [1], [2] (h/t DeLong).)
Technorati Tags: financial crisis, credit spreads,
subprime ...
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