By Mischa Popoff on October 1, 2009
Some claim the global financial crisis was caused by a lack of
regulation. But it was overregulation and community activism that
caused the American mortgage crisis which precipitated the global
financial meltdown.
The American mortgage industry is overseen by Freddie Mac and Fannie
Mae. They are roughly equivalent to our Canada Mortgage and Housing
Corporation, the big difference being that unlike CMHC they participate
directly in the mortgage market. Now hold that thought…
