I think free markets left unfettered and without limits tend to eventually self implode, as the human weaknesses of fear, greed, deception, etc, tend to eventually manifest themselves. But that's why for some reason, Fannie/Freddie seem to work, they reassure MBS and debt investors that the government has their back and they shouldn't worry about a loss associated with investing in the American Housing Market.
Too bad they have treated the equity investors in the twins so badly, I don't know how private equity capital is going to be willing to come readily back in after the government has acted so badly for the last 12 years during the "conservatorship".
Maybe the USSCT will honor the rule of law and make it right!
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