Reading this was almost eerie, sort of like precognition. The exhuberance of the reportage was clear as if this reduction in standards should have happened years before.
McCain co-sponsored a bill in ‘05 to address problems that he forsaw. Democrats blocked it. Get the word out there.
‘’From the perspective of many people, including me, this is another thrift industry growing up around us,’’ said Peter Wallison a resident fellow at the American Enterprise Institute. ‘’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.’’
Precognitive? I’ll say.