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Although there were many contributing factors, the housing bubble of 1997-2007, it would not have been as horrific or lasted as long nor would there have been a financial crisis of 2008 but for the role played by the housing policies of the United States government over the course of two administrations [Bush and Clinton - in fairness Bush warned against the practices of Fannie and Freddie but the congress insisted Fannie and Freddie were solvent]. These policies resulted in about 27 million subprime and Alt-A mortgages in the US financial system with half of the mortgages outstanding. The losses resulting from the delinquency and default of these mortgages are responsible for the financial crisis. All of the above information comes from the report which you can check for yourself. The Dodd-Frank Act does not deal with Fannie and Freddie. [F/F]

Who wrote, "The Dodd-Frank Act does not deal with F/F?"

The Dodd-Frank Act is ALL ABOUT F/F! Every step that F/F takes is now governed by the edicts of Dodd-Frank, which is why I'm buried in paper every single day of my job.

Why does the report link subprime with F/F? F/F didn't offer subprime loans. Alt-A, yes; subprime, no.
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