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Politics : Formerly About Advanced Micro Devices
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To: denizen48 who wrote (441664)12/20/2008 5:52:50 PM
From: Brumar89  Read Replies (1) of 1573432
 
Fannie, Freddie and Bear Stearns all fell for the same reason -holding subprime mortgages. If it had only been Bear Stearns alone, there wouldn't be a big problem. The Fannie-Freddie situation is much larger and was foreseeable - the NYT was writing about it as far back as 1999. Congress refused to do adopt preventive measures and Frank was one of the voices there saying there was no problem.
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