Posted on 05/18/2021 2:22:42 PM PDT by Jan_Sobieski
AEI scholar Peter J. Wallison has a new book out today titled “Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again.” Though the standard narrative is that the 2008 financial crisis was caused by Wall Street greed and insufficient regulation, Wallison argues that US government housing policies played a crucial role.
On January 14th, AEI is hosting an event on “Hidden in Plain Sight” — more details here. Below, Wallison answers questions on the future of Fannie and Freddie, the effect of government involvement in the financial crisis, the bankruptcy of Lehman Brothers, and more.
Dodd-Frank was passed in 2010 in an effort to prevent another 2008 crisis. Do you think it will accomplish that goal, or are we in danger of repeating history?
Legislation can only be effective if it is drawn up by a Congress that understands the nature of the problem it is supposed to solve. Dodd-Frank was based on the false idea that the 2008 financial crisis was caused by insufficient regulation of the private sector…
(Excerpt) Read more at aei.org ...
I wrote my masters thesis about that book.
Everyone I know, including myself, is unloading all of their rental property. I’m guessing that we are in for a big hit next year.
Why, there is a lot of pressure in this area, and we are doing and will continue to do well. lots of out of state money coming in, and out of country’s money coming in.
“Dodd-Frank act. A solution to a problem written by two of the principle individuals responsible for the crash in the first place.”
Exactly right.
We will wish the next crises was as benign as 2008.
I’m getting rid of my Airbnb property while the Capital Gains are currently where they are. I expect to get about $100k profit on a property I have owned since January of 2017. I am guessing that travel will take a big hit next year.
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