Free markets? This guy is so ANTI free market it ain't funny. Couple that with higher taxes and increased spending and you got quite the recipe for diaster.
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these...
Also from NYT:
September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under...
Has to do with the lack of commissions they generate for themselves and the perceived higher risk. Not to mention that most prop firm owners don't know anything about them.
I know guys who have worked for LEH for over 25 years, and were forced to take portions of their bonus in restricted stock. One guy in particular lost about 50mil in this debacle.