OCTOBER 27, 2011, 11:44 A.M. ET The Mortgage Crisis: Some Inside Views Emails show that risk managers at Freddie Mac warned about lower underwriting standards—in vain, and with lessons for today. By CHARLES W. CALOMIRIS Occupy Wall Street is denouncing banks and Wall Street for “selling toxic mortgages” while “screwing investors and homeowners.” And the […]
THE MORTGAGE CRISIS – PLACING THE BLAME WHERE IT BELONGS Read More »
FOX NEWS segment in 2008 – Chuck Schumer and Barney Frank block Fannie and Freddie reform
AUGUST 21, 2011, 7:41 P.M. ET A week in the life of the Obama recovery. Financial markets are in turmoil, investors are fleeing to safe havens, and the chances of another recession are rising. This would seem to be a moment when government should be especially careful to do no harm, to talk and walk
HOW NOT TO GROW AN ECONOMY Read More »
washington post By Zachary A. Goldfarb, Updated: Monday, August 15, 10:25 PM President Obama has directed a small team of advisers to develop a proposal that would keep the government playing a major role in the nation’s mortgage market, extending a federal loan subsidy for most home buyers, according to people familiar with the matter. The decision
ON MORTGAGE RATES, OBAMA WANTS PROPOSAL FOR HOW GOVERNMENT CAN KEEP BIG ROLE Read More »
AUGUST 10, 2011 A New Strategy for Economic Growth Growth is not just about economics. Growth unleashes human potential. By KEVIN WARSH AND JEB BUSH As the economy continues to struggle, we are reminded of a course offered at Yale University titled “Grand Strategy.” Drawing on a weighty curriculum of history and philosophy, the course
JEB BUSH – NEW STRATEGY FOR ECONOMIC GROWTH Read More »
Published on The Weekly Standard (http://www.weeklystandard.com) Guilty Men The political origins of the meltdown. Christopher Caldwell July 25, 2011, Vol. 16, No. 42 Reckless Endangerment How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon by Gretchen Morgenson & Joshua Rosner Times Books, 352 pp., $30 To have served as the intellectual architect of the
BOOK REVIEW – RECKLESS ENDANGERMENT Read More »
Burning down the house By George F. Will, Published: July 1 “The louder he talked of his honor, the faster we counted our spoons.” — Emerson The louder they talked about the disadvantaged, the more money they made. And the more the financial system tottered. Who were they? Most explanations of the financial calamity have been
THE ROOTS OF THE HOUSING CALAMITY – GEORGE WILL Read More »
JUNE 3, 2011 Home Truths To keep itself politically bullet-proof, Fannie Mae paid competing lobbyists to sit on the sidelines. By JAMES FREEMAN Reckless Endangerment By Gretchen Morgenson and Joshua Rosner (Times Books, 331 pages, $30) ‘The American people realize they’ve been robbed. They’re just not sure by whom,” write Gretchen Morgenson and Joshua Rosner
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MARCH 25, 2011 The identification of firms as too big to fail is a mad policy that will confer unfair marketplace advantages and put taxpayers on the hook for future bailouts. With the comment period now closed on its proposed rule, the Financial Stability Oversight Council (FSOC) is getting ready to outline the terms for
DODD-FRANK’S THREAT TO FINANCIAL STABILITY Read More »
February 4, 2011 Bubbles, Bubbles Everywhere By Victor Davis Hanson The 2008 financial crash originated with a housing bubble. Not long ago, the cheap money policies of the Federal Reserve, the infusion of trillions of dollars in new foreign investment, and the misguided policies of Freddie Mac and Fannie Mae all conspired to extend to
BUBBLES BUBBLES EVERYWHERE – VICTOR DAVIS HANSON Read More »
