confuse yourselves with unknowable facts...
Daniel is a very good commenter, but he too can make mistakes.
So, when he caught Krugman making one, he pounced.
You will find these two articles to be, truly, wonderful...
if not perfect.
The problem here is that some want to believe what their heart are telling them must be true.
As RonnieR taught all of U.S. - The Govt will not solve our problems, Govt IS the problem.
Then buy eliminating the laws and regulations that DO work...
and cutting back on taxes to force cut in spending on programs that YOU don't like...
we created a self-fulfilling prophesy.
{Y}our Govt has to BE very bad, bcuz we make it so.
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JGBell
Very good point, Daniel; but you too missed The Point. But, your graphs show it to U.S. nevertheless.
In 01-03 the GSE were the largest lender, true; but of what KIND of RE loan. In Krugman's 2nd chart that would appear to have been "Prime" RE loans, that were not the original problem loans. In 04-07 the NAS - NonAgency Securitized - share of the market exploded, according to your chart. However, in Krugman's chart that was when the AltA & Subprime RE loans also exploded.
So, who DID make all of those 04-06 subprime RE loans...??? In the Sand States of Cal, Nev, Fla & AZ??? And who went BK and were bought out - Countrywide, WAMU & Wichovia.
Are you really saying to U.S. that by making all those 01-03 prime loans the GSE's caused all of the problems? When your own chart shows U.S. that it was the NAS creating AltA and subprime RE loans in 04-7 that did U.S. in.
What you also did not point out was that the GSE, like GD fools, began to sell AltAs and Subprime RE loans towards the very end of the disaster. Late to the party, and like a drunken sailor. While the GSE's were to blame for stupidly jumping in late; they did NOT start or fuel the subprime and AltA problems in the sand state. Nice try, but you are wrong
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Did Fannie and Freddie Cause the Housing Bubble?
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Things Everyone In Chicago Knows - Which happen not to be true.
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