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Paulson says US is on its way to another housing market crash

Posted on 05 April 2013

If it does not reform Fannie Mae and Freddie Mac, the state-backed lenders that guarantee mortgages and were implicated by economists in the financial crisis, the US may face another housing crash, former Treasury secretary Hank Paulson said.
“Today, the government is guaranteeing 90 per cent of the mortgages,” Paulson will say. “If the government keeps doing this, and markets aren’t allowed to work, we’ll be right back where we were in 2007 and 2008.” Paulson called for reform, saying that the fact Fannie and Freddie have swung into profit should not blind policymakers to the dangers of a lender not restricted by market rigour………………………………………..Full Article: Source


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