Smoking Gun of the Housing Crisis

Nina Sidoryanskaya / July 08, 2009

At yesterday’s Bloggers Briefing at Heritage, Rep. Darrell Issa (R-CA), ranking member on the House Oversight and Government Reform Committee, touted a 26-page report that holds the government accountable for the housing crisis through its unsustainable drive to increase homeownership.

The report sheds light on the unnecessary interference of government in the housing market. It singles out Fannie Mae and Freddie Mac to show how the U.S. entered an economic downturn that rippled around the world. (Heritage has long argued for reforming Fannie and Freddie by breaking up their stronghold on the mortgage market.) (more…)