While this presentation by Peter Wallinson is not the most exciting presentation, it is one of the most well rounded and in depth explanation on how Federal interference in the banking system and housing industry through Fannie Mae and Freddie Mac created the housing crisis we are living in now.
It is amazing how the passive aggressive approach to oversight by HUD, bank regulators, and Congress of the banking industry.
http://reason.tv/video/show/626.html
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Tom,
I wrote about this work by Wallison on my blog today, with many excerpts and my own commentary. http://www.salinemichiganrealestate.com/how-did-t…
It is a good explanation, but the government was just one of many factors that contributed to the problem.