Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Fanny and Freddie had not led to bubbles -- on their own. But in a prolonged low interest rate environment they ended up holding the bag for an enormous amount of fraudulent credit issuance, all disguised with self regulating lipstick and rouge.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Aug 28th, 2010 at 11:25:29 AM EST
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