Friday, July 01, 2011

PBS NewsHour report on 'Reckless Endagerment'

Protecting Its Fannie: How Mortgage Giant Primed the Bubble, Covered Its Assets:

Watch the full episode. See more PBS NewsHour.

...In the early '90s, when Congress was writing the legislation that would have a bearing on Fannie Mae's regulator, Barney Frank was really very aggressively on the attack.

Whenever anyone would walk onto Capitol Hill and say, we should be careful about safety and soundness, let's make sure the regulator is tough, let's make sure that capital requirements are high, Barney Frank would be in there hectoring, shouting, "We don't have a safety and soundness problem. We should care more about housing."...



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