Statist Robert Kuttner Says Fannie Mae Gets Too Much Blame in Housing Crash

Anti- free market ideologue Robert Kuttner attacks the important new book by Gretchen Morgenson:

Only late in the game did Fannie Mae seriously water down its standards. It’s true—and appalling—that Fannie became the largest purchaser of subprime loans from one of the worst mortgage hustlers in the game, Jim Johnson’s pal Angelo Mozilo, the CEO of Countrywide Mortgage. But that was in the period from 2003 to 2005, when Wall Street had already provided the financing and created the securities market for subprime. Fannie was playing catch-up.

If Robert Kuttner keeps this up: he could get a grant from a Fannie Mae foundation to promote promotions.