Home | Hegemony | Archives | Blogroll | Resume | Links | RSS Feed | subscribe by email    

Flagrancy

to Reason

 

blog roll


    i guess there's some virtue in the sentiment..., 2008-10-11 00:31:31 | Main | another $480 billion a year on top of that $700 billion bailout on top of pouring unlimited liquidity into the banks so they can buy more treasury bills..., 2008-10-13 11:12:22

    the maximum leader has a palpable mind:

    We're taking equity rather than the stained toilet paper, now? What?

    Also, also.

    Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.

    You have to reach way back in the news archives to hear about Ginnie Mae's declining market share in mortgage insurance, back round 2001. After that, it's about FNM and FREs' declining market share in 2003. You could take it two ways: that the "government sponsored" market lead the bubble, or that the "deregulated" ABS market took it away. That means the same thing, in case you weren't paying attention, either way you cut it. Have you heard about this Ginnie Mae business lately? No? Well, there you are. Another hotly disputed matter over no contest.

    Government, as such, didn't do dick. They lost their market share, and seemed to say, "so what." That seems to me to realize a certain aspect of some abstract libertarian ideal in terms of external interventions melting away before ever expanding spheres of private contract. I look forward to a more coagulated dispensation on how the lender of last resort sabotaged the free market and caused this particular curiosity of chronic financial hiccups. McClatchy makes short shrift of what the GOP hacks offer. Doing them all one better couldn't be that hard.


:: posted by buermann @ 2008-10-11 23:16:49 CST | link





    go ahead, express that vague notion
    Name:
    Email:
    Homepage:
    Comment

    your turing test:

journals, notes,
and
other curmudgeonry

Enforcing
American
Hegemony
- A Timeline -

Oil for Nothing:
US Holds On Humanitarian Supplies
Iraq: 1997-2001


the good book
and other cultural
artifacts


The Autobiography
of
Mother Jones


Contact Info:
buermann[at]
flagrancy[dot]net



"Any man who is not a radical at 20 has no heart. A man who is not a cynic at 50 has no mind."