Quotes Donut - In short, the explosion in sub-prime lending was a thoroughly top–down, political project, mandated by Congress, implemented by government-sponsored enterprises, enforced by the law, encouraged by the president and monitored by pressure groups. Remember this when you hear people blame the free market for the excesses of the sub-prime bubble.

In short, the explosion in sub-prime lending was a thoroughly top–down, politica... - Matt Ridley - Quotes Donut

Written By Matt Ridley

In short, the explosion in sub-prime lending was a thoroughly top–down, political project, mandated by Congress, implemented by government-sponsored enterprises, enforced by the law, encouraged by the president and monitored by pressure groups. Remember this when you hear people blame the free market for the excesses of the sub-prime bubble.

6 Reads • February 18, 2021