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The Housing Bubble: Greenspan's Wayward Son

Public policy through Fannie Mae and Freddie Mac is the reason for the housing bubble. These 2 giants pumped money into the housing markets leaving mortgage brokers with the choice of lending to the unworthy or letting their competitors lend to the unworthy. The flood of questionable loans created the market for exotic financial instruments that banks finally choked on. If you want someone to blame for this housing bubble look in the mirror, everyone look in the mirror, we voted for this now enjoy it. Ronald Reagan said all too often Government is the problem here is the proof once again. Quoting Reagan is not enough, believing that government can fix any problem is the heart of the problem that affect this nation.