Jackson50 on 30 September 2008
I agree with him, but I find it unfortunate that he did not implicate the Federal Reserve. Yes, the government should be held responsible for creating the stupefying GSEs. They should also be held responsible for attempting to artificially increase home ownership. Why the government attempts to artificially increase home ownership is beyond me; this odd practice began when Hoover was Commerce Secretary. With that being said, the Fed’s managing (mismanaging, actually) of the money supply was the main cause of the housing bubble and subsequent financial crisis.
