Mortgage Problems Move Up the Chain
I threw this in a sidebar to one of the Fannie/Freddie pieces Tuesday but I think it is important enough to highlight.
First a refresher… many of the same pundits and in fact government officials who assure us everything is fine and dandy and we’ll be out of this soon enough (and have been repeating this matra since the first hedge fund explosions in Bear Stearns last summer) have a history. A history we can look up. For example the now infamous statements