The Wallison dissent

posted by
February 9, 2011
by Arnold Kling  
Posted in Commentary

"Wallison, as you may know, is one of the few experts wanting to put most of the blame for the crisis on government pressure on Freddie, Fannie, and the banks to reduce lending standards. One of the criticisms leveled at this view is that it is impossible to blame U.S. housing policy for foreign housing bubbles. As you can see, Wallison's comeback is that foreign housing bubbles did not produce as much financial devastation, because mortgage credit standards were not as heavily compromised as in the U.S." (02/08/11)  


Our Sponsors