With so much attention directed at slumping housing
With so much attention directed at slumping housing and stock values, it is easy to forget that this fiscal contraction began with the sub-prime mortgage crisis that has since turned Wall Street into a house of cards that seems to shed portions of its structure each week. By 2008, both of the government sponsored enterprises (“GSE”) known as Fannie Mae and Freddie Mac ultimately failed and were eventually rescued by the Federal Government as predicted. But . However, a significant portion of the fiscal woes now plaguing both Wall Street and Main Street originated well before the [...]
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