This is largely because the housing market was spiralling, and even Fannie/Freddie didn't have the capital means to recover it (thanks in part to the caps being placed on them, and their already high leverage because of the singularity of the market they serve). This may be long-term (in relation to other investments), but I doubt it's permanent.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
timeasmymeasure
no subject
Date: 2008-09-08 04:45 pm (UTC)