On Sat, Nov 15, 2008 at 1:03 PM, John Williams <[EMAIL PROTECTED]>wrote:
> On Sat, Nov 15, 2008 at 11:32 AM, Jon Louis Mann > <[EMAIL PROTECTED]> wrote: > > > i still don't understand how regulation is to blame; i would sure like > to hear some examples from someone... > > I know you were on this list before September 23. Maybe you weren't > interested in examples then? If you are now, then check the archive: > > http://www.mccmedia.com/pipermail/brin-l/Week-of-Mon-20080922/144140.html > Ah, yes, the McCain argument that Fannie Mae and Freddie Mac (via the CRA) supposedly caused the sub-prime meltdown. The only trouble with that "explanation" is that it is baloney. You have confused the tail with the dog. Those two were LOSING market share rapidly from 2002 to 2007 as the sub-prime market exploded, led not by them (or they'd have increased their share) but by investment bankers and mortgage brokers. They only got involved (unfortunately) after the private market led them there. So, any *real* examples of how government regulation caused the sub-prime crisis? Nick _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
