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Mr. Thomas dismisses the argument by many conservatives that Fannie and Freddie deserve most of the blame for the financial crisis because they had a mission to encourage lending to minorities and borrowers with lower credit ratings, and pursued that mission through purchases of higher-rated sub-prime securities.
“That’s baloney, and I’m a Republican. They were not the cause of the crisis, though they took the brunt of it,” he said. “Are they really going to kill the goose that lays the golden egg?” he asked of Republican proposals to eliminate the agencies.
Read more: http://www.washingtontimes.com/news..._source=RSS_Feed&utm_medium=RSS#ixzz2TezjP8Wr
Follow us: @washtimes on Twitter
Mr. Thomas dismisses the argument by many conservatives that Fannie and Freddie deserve most of the blame for the financial crisis because they had a mission to encourage lending to minorities and borrowers with lower credit ratings, and pursued that mission through purchases of higher-rated sub-prime securities.
“That’s baloney, and I’m a Republican. They were not the cause of the crisis, though they took the brunt of it,” he said. “Are they really going to kill the goose that lays the golden egg?” he asked of Republican proposals to eliminate the agencies.
Read more: http://www.washingtontimes.com/news..._source=RSS_Feed&utm_medium=RSS#ixzz2TezjP8Wr
Follow us: @washtimes on Twitter