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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (158789)	10/21/2008 2:34:02 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

I'd rather be picking on the GSEs (Sometimes I feel like I'm defending them - I'm not). And I agree the GSEs should have been sounding the alarm - but they had their own problems. The MI companies actually were sounding the alarm! Good for them - but the reason was they were getting cut out of the deals (Wall Street just securitized 2nds without MI - whereas the GSEs required MI). Now the MIs are happy that happened! Unfortunately this is the silly season (elections) and there is a group spreading false information for political purposes. I just want to make it clear that this "Fannie and Freddie caused the housing bubble" campaign is not true - and I think the perpetrators of the campaign should be held up to public ridicule.