Sunday, February 22, 2009

An accurate prediction

Found on The Anchoress, a link to an article in the New York Times about housing policy in 1999:
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

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