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Flashback: American Enterprise Institute on Fannie-Freddie in 1999

Last week I linked to a 2005 AEI article about Fannie Mae and Freddie Mac.  Well, they were six years ahead of me.  In 1999, Peter Wallison from the AEI made this prediction: ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' The full article from the New York Times is fascinating:In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders...continue to full post

Full post as published by Crime & Federalism on September 30, 2008 (boomark / email).