Wednesday, June 08, 2011

Fannie and Freddie, the fundamental failure that has not yet been addressed.

This blog has repeatedly tried to alert its readers to the true depths of disaster represented by Fannie Mae and Freddie Mac for the US economy.

Most recently it has revealed the involvement of President Obama in fuelling the problem the causes of which lie even further in the past. So many powerful people under various administrations have had a hand in running up the horrendous debts, that politics itself has become one of the major impediments to finding a solution.

On Monday on Bloomberg Television's Charlie Rose programme, Gretchen Morgenson was interviewed about her book 'Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon' its co-author is Joshua Rosner.

Any concerned with the similar problems afflicting UK property owners, should try to find time to watch this interview, which lasts about twenty minutes. It is linked from here.

Read a review of the book from the New York Times, (which employs one of the authors,) from here.

Previous posts on Ironies Too on Fannie Mae or Freddie Mac, from here.

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Blogger James Higham said...

And won't be addressed while the globalists are still in the ascendancy.

11:18 AM  

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