Morgage Meltdown Basics

| September 19, 2008 | Reply

There are a couple pieces out there this evening on the mortgage mess I recommend to you for the weekend.

The first is a link-heavy rundown of the government takeover of the GSEs, including a comparison of quotes given by a FNMA lobbyist and Senator Chris Dodd.

The second is a more lengthy history of how we got here by Jim Manzi that will make an excellent primer if you want to explain the debacle to anyone else. He also puts a couple of cautionary caveats at the end for those of us who deplore the fact the government has to use so much of our money to solve a problem that it mostly caused. If we are not careful at this point, we could have a home mortgage industry that is de facto owned by the federal government.

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Category: The Economy and Your Money

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