Sunday, January 18, 2015

Peter Wallison : Voodoo Economics Scholar or Sociopathic liar ?

Of all the mortgages originated between 2006-2013 10% actually failed and produced 1 trillion dollars in losses. So based on a percentage of all the mortgages they underwrote in this period just how do the various players stack up?
Realized losses of all mortgages originated between 2006-2013
Fannie and Freddie- 3 Percent
Big Banks- 6 Percent

PLMBS/ Private mortgage co.s (Ameriquest etc.) 23 Percent
Now you tell me, who exactly was responsible for all the losses in mortgages?
Fannie and Freddie who had 3% of those losses, or Big Banks and PLS that had 29%?
These people really think Americans are stupid and sheep, don't they? 

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