The Congressional panel investigating the financial crisis wants to know if Freddie Mac and Fannie May were well intentioned or ridden with greed.
The Congressional panel investigating the financial crisis wants to know if Freddie Mac and Fannie May were well intentioned or ridden with greed. "They were well-intentioned victims of a historic, unanticipated meltdown in the housing market -- or they were reckless, arrogant financial firms that plunged headfirst into the riskiest mortgages in a blind pursuit of profits. The panel investigating the nation's long financial crisis heard those two sharply divergent rationales for the failures of mortgage financing giants Fannie Mae and Freddie Mac, which were seized by government officials in 2008 at a cost to taxpayers of $126 billion, to date. The third day of hearings into the subprime mortgage mess highlighted the difficult task of the Financial Crisis Inquiry Commission in ferreting out the causes of the worst fiscal morass since the Great Depression."
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
The Oxfam report prompted Anand Giridharadas to tweet: "Don't be Pinkered into everything's-getting-better complacency."
- A new report by Oxfam argues that wealth inequality is causing poverty and misery around the world.
- In the last year, the world's billionaires saw their wealth increase by 12%, while the poorest 3.8 billion people on the planet lost 11% of their wealth.
- The report prompted Anand Giridharadas to tweet: "Don't be Pinkered into everything's-getting-better complacency." We explain what Steven Pinker's got to do with it.
Evolution doesn't clean up after itself very well.
- An evolutionary biologist got people swapping ideas about our lingering vestigia.
- Basically, this is the stuff that served some evolutionary purpose at some point, but now is kind of, well, extra.
- Here are the six traits that inaugurated the fun.
- Facebook and Google began as companies with supposedly noble purposes.
- Creating a more connected world and indexing the world's information: what could be better than that?
- But pressure to return value to shareholders came at the expense of their own users.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.