<Conservative Op-Ed substituting for actual fact>
One thing you should know about Op-Eds, particularly those from the right wing,
is that they're fucking lies. Nothing you copy-and-pasted below contradicts any of what I posted; that GSE's had well-performing subprime loans. That 75% of all subprimes were from banks exempt from the CRA.
The loans the GSE's bought prior to 2004
were good loans! Their default rates were
consistently below 5%:
So that shit you posted was just an attempt to conflate the issue. Not all subprimes were toxic. In fact, 95% of the subprimes issued by GSEs had no delinquency issues whatsoever. GSE market share was also cut in half during the bubble, proving it wasn't GSEs flooding the markets with subprimes, but rather your buddies in the private sector.
So it wasn't GSE's that did anything wrong. It was the private sector run amok.