"It is now clear....that government housing policies---implemented primarily by Fannie Mae and Freddie Mac---forced a reduction in mortgage underwriting standards, which was the real cause of the crisis." (Emphasis added)
SOURCE: Wall Street Journal, 7-21-14 Page A 13
Author, Peter J. Wallison, will have a new book published in January on the Financial Crisis.
JP: This follows the general rule: government is the problem.
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