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Politics : Politics for Pros- moderated

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From: Bearcatbob	5/1/2010 4:51:41 PM
	3 Recommendations of 793888

usnews.com "It turns out that Fannie Mae, Freddie Mac, and the Federal Housing Administration had financed a lot more subprime and Alt-A (alternative documentation) loans than anyone realized, mostly as a result of congressional mandates. Indeed, of their total outstanding mortgage portfolios of $10.6 trillion, roughly half turned out to be of low quality. Had this been known, it would have been clear that the American public's capacity to assume this amount of housing debt was at great risk." Mort Zuckerman: Congress Had a Role in the Financial Crisis By Mortimer B. Zuckerman

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