Joe Nocera knocks down the idea that Freddie Mac and Fannie Mae caused the housing-market collapse. The two FMs actually followed the private sector over the cliff; they didn’t lead the private sector over the cliff, Joe says
It’s a persuasive argument. But here’s the thing: Can’t we all agree that the blame game isn’t really relevant at this point? The debate has gone on now for more than three years. Back and forth it goes, usually between ideologues trying to protect pre-conceived views on how the world works and ignoring inconvenient facts that contradict their opinions on how the world works.
It’s almost becoming a chicken-before-the-egg debate. It’s so tiring.
File under: Tastes great, less filling