The History of the 2006- ? Economic Crisis. Three Parts: 1) Government Intervention; 2) Federal Reserve Policies; and 3) Corruption. Time Line. 1938 Fannie Mae as government agency 1967: LBJ spins the Fannie off as GSE 1970: Freddie Mac created 1977: CRA enacted –
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The History of the 2006- ? Economic Crisis
Three Parts: 1) Government Intervention; 2) Federal Reserve Policies; and 3) Corruption
FF with implicit govt guarantee can offer product at lower prices: gap between AAA and 10 yr Treasury 1.46% whereas between FF and 10 yr Treasury .5%
Larger percentage of NINJA loans included in securities
Subtracting the averaged trailing 12 months median CPI (SOURCE: Cleveland Fed) from the average of the monthly Fed Funds rate (SOURCE: Federal Reserve).