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★☆☆☆☆
I was really excited to read this...until I did.
Let me preface this by saying that I am highly intrigued by the financial crisis and study the causes(and effects) as much as I can. Unfortunately, I have wasted some time here as I was under the impression this was a non-fiction piece. That impression was wrong. I am no expert, but there is a mountain of evidence higher than Kilimanjaro that exonerates the GSEs. Not only did they not cause, nor were they a major contributing factor, but they essentially saved the day by continuing to provide liquidity to the market when nobody else would/could. Not to mention the tens of billions of dollars paid by banks to Fannie and Freddie to settle toxic loans that were dumped on them. What do I care about the GSEs? Well, technically I don't. However, I have been following the U.S. Government's handling of their conservatorship and I was hoping this book's title eluded to the fact that the government is stealing from the taxpayers "in plain sight", all while doing in in the name of the taxpayer. If you're in the mood for fiction, read this book. On second thought, read Harry Potter. At least J.K. Rowling has the decency to tell her readers it's made up before they begin.
January 2015 · Books