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    More on Fannie/Freddie Subprime Link

    George Mason University economics professor Russell Roberts writes in today’s Wall Street Journal: Beginning in 1992, Congress pushed Fannie Mae and Freddie Mac to increase their purchases of mortgages going to low and moderate income borrowers. For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie … More

    CAP's Faulty Fannie/Freddie Facts

    The left is desperate to pin this financial crisis on the free market.  The left knows that if the American people knew the truth about how government intervention in the market caused this current credit crunch, their agenda would be dead for a generation. So what do they do? They … More

    Morning Bell: Bailout's Precedent Requires Vigilance

    According to the best sources on Capitol Hill, opposition to the financial rescue plan is wilting. This is good news for the American people. Action to address the credit crunch is urgently needed and both the addition of raising the FDIC insured funds cap to $250,000 and the SEC’s mark-to-market … More

    An Increased Range of Tools to Fight the Economic Crisis

    The economic rescue package that the House will vote on tomorrow provides federal regulators with a broader array of tools to fight the economic problems facing the nation than the version that was defeated Monday. As the effects of the crisis continue to spread, these additional tools are likely to … More

    How the FDIC Cap Makes the Rescue More Effective

    Two stories in The New York Times today demonstrate why the increase in the level of deposits the FDIC can guarantee (from $100,000 to $250,000) will help address the spreading financial crisis. First, on the importance of small businesses to the U.S. economy: Small businesses in America — the 27 … More

    FDIC Fixes Improve Rescue's Effectiveness

    It appears that the Senate is already on the road to improving the financial rescue package that the House of Representatives rejected earlier this week. The biggest change in the Senate version of the bill is an increase in FDIC insured deposits, which would rise to $250,000 from $100,000. This … More

    Morning Bell: Preventing the Biggest Bailout of All

    The bailout parade is continuing unabated in Washington this week. On the heels of a $25 billion bailout for the automotive industry, the Bush Administration agreed yesterday to a $4.3 billion bailout of Massachusetts’ out of control health care spending. Apparently when numbers like $700 billion are being thrown around, … More

    The Real Fiscal Crisis

    This week, Heritage senior fellow J.D. Foster squares off with American Prospect’s Robert Kuttner over how Congress should address the economy next in The Los Angeles Times. First JD: The Paulson plan was certainly no cure-all; it was intended to keep capital markets functioning so they can resolve their own … More

    Morning Bell: A Financial Crisis of Government's Making

    Campaigning in Colorado yesterday Barack Obama blamed the financial crisis on “a culture of deregulation.” No, we don’t know what this means either. Pressed for specifics, some on the left manage to identify the 1999 Gramm-Leach-Bliley law as the deregulation source for all our problems. But as we have detailed … More

    Addressing the Credit Rescue's Constitutional Problems

    Former Attorney General Ed Meese and Heritage ‘s Dr. Stuart Butler make their case for a financial rescue plan: While there are those in Congress who would push the role of government far beyond what is necessary in this crisis, the core technical parts of the negotiated package are acceptable. … More