Politics & Government

October 12, 2008 3:56 PM

Private sector loans, not Fannie or Freddie, triggered crisis

Talk radio and the blogosphere are pushing the idea that the stock market meltdown and the freeze on credit was triggered by finance giants Fannie Mae's and Freddie Mac's lending money to poor and minority Americans. But federal housing data reveal that that charge isn't true. Instead, it was the private sector that was behind the soaring subprime lending at the core of the crisis.

Related content

Comments

Videos

More Videos

British royal family, Obamas trash talk ahead of Invictus Games 00:40

British royal family, Obamas trash talk ahead of Invictus Games

Senators McCain, Roberts have heated exchange over Obama’s Army nominee 02:32

Senators McCain, Roberts have heated exchange over Obama’s Army nominee

John Boehner calls Ted Cruz ‘Lucifer in the flesh’ 00:45

John Boehner calls Ted Cruz ‘Lucifer in the flesh’

Funniest presidents of the last 25 White House Correspondents' Dinners 02:24

Funniest presidents of the last 25 White House Correspondents' Dinners

Gov. Nikki Haley: Keep Gitmo detainees out of South Carolina 07:48

Gov. Nikki Haley: Keep Gitmo detainees out of South Carolina

Will Carly Fiorina help Ted Cruz win the Republican nomination? 01:30

Will Carly Fiorina help Ted Cruz win the Republican nomination?

Can Cruz + Kasich really stop Trump? 01:24

Can Cruz + Kasich really stop Trump?

The behind-the-scenes battle for the Republican nomination 02:01

The behind-the-scenes battle for the Republican nomination

South Carolina senator asks about MOX facility future 07:14

South Carolina senator asks about MOX facility future

Meet the cat running for president 02:34

Meet the cat running for president

Obama meets with world leaders in Saudi Arabia, will discuss counterterrorism 03:03

Obama meets with world leaders in Saudi Arabia, will discuss counterterrorism

HB2: A timeline for North Carolina's newest law 02:42

HB2: A timeline for North Carolina's newest law

Share Video

Politics & Government Videos