Another article from the NYT – this one by Charles Duhigg titled “Pressured to Take More Risk, Fannie Hit a Tipping Point”.  In our opinion actually a pretty good analysis by the Times staff who haven’t always used thorough investigative approaches (2003-2004) in their approach to the GSEs. 

The article prompted Barry Ritholtz to pen a for the most part well thought out piece on his blog titled “Fannie Mae and the Financial Crisis”.  He takes another unnecessary partisan swipe which is a bit of distraction from the meat of the post; Barry writes in the second paragraph of the piece –

Rather than creating historical revisions for partisan reasons, I prefer to keep it reality based. (I’m an independent (sic), and that’s how I roll).

Ritholtz then goes on to implicate one party (the GOP) in somewhat disparaging terms.  From the data that is readily available, folks on both sides of the political fence are in this mess up to their elbows, and casting aspersions at one party (and appearing to let the other side skate) doesn’t seem to contribute a great deal to the argument, and tempers credibility a bit.  The old caution of being very attentive when somewhat says “I’m really not a partisan” would seem to apply here.   

Nonetheless it’s worth your time if you’re really interested in understanding the role of the GSEs in the bigger picture of where we are today. 

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