[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]
They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.
But maybe I misunderstood.
[/quote]
Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.
