@nytopinion Is the NYT obligated to print idiocy if it serves the interest of a prominent billionaire. Every part of this story has been show wrong repeatedly. (thread)
@nytopinion The worst loans were not securitized by Fannie and Freddie, they were securitized by Goldman Sachs and other investment banks
@nytopinion Fannie and Freddie got into subprime in a big way later in the game, because they were losing market share. This was a profit based decision (a very foolish one) they were not responding to liberals in Congress
@nytopinion The main issuers of subprime loans were mortgage banks that were not even covered by the Community Re-investment Act. Furthermore, many of the loans would not have been qualifying in any case, since they were in exurbs, not inner city neighborhoods
@nytopinion I touch on some of these points here cepr.net/the-big-short-…
@nytopinion Does the NYT have to print this long-discredited nonsense just to appease Bloomberg? If a billionaire because a Holocaust denier, would the NYT print opinion pieces saying the Holocaust didn't happen?
