Fannie Mae, Freddie Mac, and the Destructive Power of Politically Correct Intentions

A first-rate essay at Philanthropy Daily reports on a book from New York Times reporter Gretchen Morgensen and housing finance expert Joshua Rosner, Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.  Although it comes with immaculate center-left credentials, it places the blame for the cratering of the housing market — and [Read More...]

What's Causing the American System to Fall Apart

I don’t agree with all of her recommendations — I think she shows a little too much fondness for regulation, for instance — but I agree with Sheila Bair on one of the primary causes of our current financial turmoil and the inability of the political class to address it: what she calls “short-termism.”  She [Read More...]

2008 was "Change"; will 2012 be "Change it Back"? — The Morning Report, 7/12/11

In the News 1.  James Pethokoukis on what will, I’m quite sure, be the central Republican argument in the 2012 election battle: The Republican charge is a body shot aimed right at the belly of President Barack Obama’s re-election effort: He made it worse. No, not that White House efforts at boosting the American economy [Read More...]

Morning Report, August 26th: The Last Lion, the Christian Mafia, the Living Lockerbie Bomber, and the Lost Work Ethic

One Christian’s perspective on the day’s news. 1.  Senator Edward Kennedy passed away last night from brain cancer.  The senior Senator from Massachusetts was regarded by friends and foes alike as one of the kindest and hardest working Senators in the Senate. President Obama released a statement saying: “An important chapter in our history has [Read More...]

Dodd, Duplicity and Federal Oversight

Since we have had several articles on the financial crisis on the Evangelical Portal at Patheos (see here and here), I just wanted to issue a quick note that Senators Dodd and Conrad, both of whom were tasked with oversight of banking and mortgages, are exposed now to have had deep conflicts of interest.  Angelo [Read More...]


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