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American Enterprise Institute (Tried) to Save the Day

The American Enterprise Institute is a free-market think tank.  In 2005, this AEI publication tried to save us from the Fannie-Freddie-induced meltdown.  It's outstanding reading, especially in light of what happend in the three years after the article appeared.  The publication saved the best (or worst?) for last: If Congress cannot take this essential step, however, no amount of additional authority--given to a purported "world class regulator"--will significantly change the course of events. Fannie and Freddie will continue to grow, and one day--as Alan Greenspan has predicted--there will be a massive default with huge losses to the taxpayers and systemic effects on the economy.Who fought against these reforms?  I've been blogging about the "who" all weekend...continue to full post

Full post as published by Crime & Federalism on September 22, 2008 (boomark / email).