The Housing Bubble in 4 Easy Steps - Mark Thornton - Mises Institute

Mark Thornton writes, "Fannie Mae, Freddie Mac, mortgage-backed securities, and credit derivatives were simply the conduit that made all these bad loans and investments seem less risky than they really were. In this manner the Federal Reserve can fool the market, at least temporarily. In the end the market always reasserts itself."

The Housing Bubble in 4 Easy Steps - Mark Thornton - Mises Institute