Hi Evan, look at the Fed chart. The pink lines are private mortgage backed securites:
You will see that Fannie and Freddie pulled back after kickstarting the housing bubble. In mid 2003 you can see how the private basel 2 sponsored mbs piled into the market. You can see how the shadow unregulated banks and their investment banks ran wild from mid 2003 to the crash in 2007.
This proves that the central banks, not Fannie and Freddie, are the real culprits in making the housing bubble go wild. Fox News will not tell you this, although they know it to be true. The chart proves that the CRA was not in the picture for most of the worst part of the bubble, starting in mid 2003.
Read it and weep Even. You have been lied to and the chart doesn't lie. It proves that more regulation, not less, was needed. But the banksters and their channels, CNBC, CNN, FOX and sometimes, MSNBC will not likely show you this chart.
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