Quote:
Originally Posted by wil
Actually I think what happened (at least from what I can tell in the case of Fannie Mae & Freddie Mac) is that a pair of Gov't Sponsored Entities paid off politicians to not enforce regulations and/or to cover up their failures. So you had gov't paying off the gov't. Yeah... I want those guys running the whole show.  |
the fannie and freddie collapse was only one of the contributing factors to this current crisis. then again, both organisations were largely privitised, and seemed to work far better before this privitisation occured.. the issues in the financial sector cross a broad range of companies. certainly the likes of enron cannot be characterised as a government failiure.