Thanks for the thoughtful discussion.... Only one note: subprime loans were by definition those which did not quality for government guarantee. So Fannie/Freddi

Thanks for the thoughtful discussion.... Only one note: subprime loans were by definition those which did not quality for government guarantee. So Fannie/Freddie may be bad policy for other reasons, but they didn't cause the crisis -- they lost market share to private lenders throughout: http://www.cepr.net/index.php/blogs/beat-the-press/george-will-spreads-some-lies-about-the-economic-crisis http://www.cepr.net/index.php/blogs/beat-the-press/george-wi...