{"id":109,"date":"2008-09-21T19:23:26","date_gmt":"2008-09-21T19:23:26","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=109"},"modified":"2008-09-21T19:23:26","modified_gmt":"2008-09-21T19:23:26","slug":"sometimes_foresight_is_a_littl","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=109","title":{"rendered":"Sometimes Foresight Is a Little Scary"},"content":{"rendered":"<p>According to <a href=\"http:\/\/hotair.com\/archives\/2008\/09\/21\/audio-mark-levin-on-the-subprime-crisis\/\">Hot Air<\/a>, the New York Times printed this statement on September 30, 1999 relating to the changes in lending policies opening up the subprime mortgage market.<\/p>\n<p>&#8220;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&#8217;s.<\/p>\n<p>&#8220;From the perspective of many people, including me, this is another thrift industry growing up around us,&#8221; said Peter Wallison a resident fellow at the American Enterprise Institute. &#8220;If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.&#8221;&#8221;<\/p>\n<p>Wow.&nbsp; Why wasn&#8217;t anyone listening?<\/p>\n<p>There is an audio link at the bottom of this article to the Mark Levin Show and his comments on the Fannie Mae and Freddie Mac meltdown.&nbsp; The audio is a little long, but his insight&nbsp;into the history of this problem&nbsp;amazing.<\/p>\n<p><strong><font style=\"FONT-SIZE: 1.25em\">WARNING:&nbsp; The language on the audio link is a little rough and very passionate.<\/font><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Hot Air, the New York Times printed this statement on September 30, 1999 relating to the changes in lending policies opening up the subprime mortgage market. &#8220;In moving, even tentatively, into this new area of lending, Fannie Mae &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=109\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-109","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/109\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}