Fannie Mae-No Politics (FNMA)

[10bambam]

Exerpt from Maloni's blog




Commentary on Peter Wallison

The AEI’s Peter Wallison, a week or so ago, penned a repeat of his allegations that Fannie and Freddie were the cause of the 2008 financial meltdown, ignoring, once again, the role of the major financial institutions who went outside the F&F systems to create and sell worldwide more than $2 Trillion of worthless private label mortgage backed securities (PLS), which their broker network created.

http://www.thecuttingedgenews.com/index.php?article=84458&pageid=13&pagename=Analysis

A friend offered this pithy description of Wallison‘s work (aided by Ed Pinto’s equally vapid research).

“Wallison is housing policy's version of a Creationist: ignoring mountains of hard evidence that refute his ideological convictions, while positing a mythologized story that falls flat without a willful suspension of disbelief. Yet, like Creationists, he has a ready audience for his material.”

http://malonigse.blogspot.com/