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Monday, January 3, 2011

Economics: How an FCIC Commissioner Invented "Evidence" About Fannie and Freddie's Downfall

How was Peter Wallison able to assert that the majority of loans originated by Fannie Mae fit into high-risk categories? It was simple. He lied. One of the more vocal members of the Financial Crisis Inquiry Commission fabricated "evidence" to support his bogus narrative about the mortgage crisis.

More than two years ago, Wallison collaborated with another fraudster, Charles Calomiris of Columbia University, to produce a sham report, "The Last Trillion-Dollar Commitment: The Destruction of Fannie Mae and Freddie Mac." It reveals all you need to know about Wallison's deceitful agenda, which was expressed, in a more sanitized form, in the GOP version of the FCIC report.

For the explaination, see How an FCIC Commissioner Invented "Evidence" About Fannie and Freddie's Downfall by David Fiderer, December 29, 2010 at The Huffington Post.

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