Friday, October 24, 2008

Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times

I just happened to stumble across this 1999 article in the New York Times, which could have been written by Nostradamus
"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's."

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