中财网重庆移通学院地址:? The Causes Of The Housing Crash
来源：百度文库 编辑：中财网 时间：2024/04/29 06:27:42
July 13, 2011
The Causes Of The Housing Crash
John Tamny writes for Forbes about the new book Reckless Endangerment.
* Top Republicans such as Newt Gingrich and Robert Zoellick pushed the Fannie Mae, Freddie Mac agenda and reducing congressional oversight.
* Fannie Mae bought off big name academics as well.
"And with a big number of Democrats bought off along with more than a few Republicans, Fannie in particular made sure to buy up academia too with well-compensated reports. Of note, frequently obtuse economists Joseph Stiglitz and Peter Orszag authored a study that chided GSEs’ critics for arguing that “both Fannie and Freddie posed significant risks for the taxpayer.” To them the possibility of a blowup was “substantially less than one in 500,000—and may be smaller than one in three million.” In 2003, the vastly overrated Republican insider R. Glenn Hubbard wrote a paper “defending Fannie Mae’s risk management.”"