01/04/2009 9:30:29 am
Why Could We Not See the Obvious? See, for example, this New York Times news piece in 1999. Fannie Mae increases credit to mortgage lending to low-income families - after pressure from the Clinton Administration. Peter Wallison of the American Enterprise Institute warns of the consequences and of a costly government bail-out. Some risks are clearly ignored. And one should never ignore risks that have to do with government interference in credits.