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  • 10 Stupid Moves That Created This Mess [View article]
    What about the congress, HUD and the GSE's. In pursuit of social justice and eager to put more low-income and minority families into their own homes, HUD required that two government-chartered mortgage finance firms purchase far more "affordable" loans made to these borrowers. There were also accounting scandals within the GSE's and shortly before they broke the Office of Federal Housing Enterprise Oversight (OFHEO)--the agency that regulates the GSEs--had pronounced Freddie's internal controls "accurate and reliable."
    Jan 01 09:15 am |Rating: +6 -4
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