CSPAN Q A July 2, 2012
public-private home ownership dropped almost destroyed the economy in 2008." why so much on his shoulders? >> we have to go back in time. a crisis this large is not happen overnight. if you really want to understand what happens, to create this mortgage bubble and the ensuing crisis, you have to go back to the early 1990's, when fannie mae and freddie mac were under pressure from congress because of prices. congress was concerned that maybe there were losses sitting in these mortgage premiums that were qualify-public, quasi- private. the government had started them, but they had priv...
Source: archive.org