OCHN: Taxpayer backing for the GSEs ensures the misallocation of credit

Subsidized credit is the process of taking credit from worthy borrowers and providing it to unworthy borrowers.

I always find it interesting when writings from many years ago resonate through the ages as if they were written yesterday, like the writings of Frédéric Bastiat, a 19th century F...
Taxpayer backing for the GSEs ensures the misallocation of credit