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Why I Was Wrong

Arnold Kling · 29 Nov 2008 · econlib.org

1 korrent from this piece · 1 of them a turn

Arnold Kling did not write this page.

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  1. I will add that I was definitely not expecting Freddie Mac and Fannie Mae to have ventured so far away from the idea of investment-quality mortgages that they had enough exposure in subprime loans to wipe out their capital.
    Did I fail to foresee the financial crisis? Absolutely.