jrefior, 5 months ago to Economics Really interesting perspective from #Marketplace, blaming the 2008 financial crisis on the debt ceiling. As they tell it: If we didn't have a debt ceiling, Fannie Mae wouldn't have been privatized, and wouldn't have facilitated massive investment in mortgage-backed securities, counting on the federal government to bail them out if the worst came to pass, which it did. https://www.marketplace.org/2023/12/05/criticism-crashes-and-crises-revisiting-three-ghosts-of-debt-ceiling-battles-past/ — #useconomy #FannieMae #economics #ushistory #DebtCeiling #TheGreatRecession
Really interesting perspective from #Marketplace, blaming the 2008 financial crisis on the debt ceiling.
As they tell it: If we didn't have a debt ceiling, Fannie Mae wouldn't have been privatized, and wouldn't have facilitated massive investment in mortgage-backed securities, counting on the federal government to bail them out if the worst came to pass, which it did. https://www.marketplace.org/2023/12/05/criticism-crashes-and-crises-revisiting-three-ghosts-of-debt-ceiling-battles-past/ — #useconomy #FannieMae #economics #ushistory #DebtCeiling #TheGreatRecession
jrefior, 9 months ago to random Until this week, the DOJ was still suing banks for causing the 2008 financial crisis: “UBS has agreed to pay $1.435 billion in penalties to settle a civil action alleging misconduct related to UBS’ underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007.” https://www.justice.gov/opa/pr/ubs-agrees-pay-1435-billion-fraud-sale-residential-mortgage-backed-securities #UBS #TheGreatRecession #banks #mortgage #DOJ #housing #foreclosure
Until this week, the DOJ was still suing banks for causing the 2008 financial crisis:
#UBS #TheGreatRecession #banks #mortgage #DOJ #housing #foreclosure