Throughout the week, the BPC Housing Commission highlights news items that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.
By Paul Jackson
"Fed economists Christopher Foote, Kristopher Gerardi, and Paul Willen apparently decided the time has come to try to unplug at least some people from a financial markets version of The Matrix: that is, common knowledge about the financial crisis and associated housing collapse. And their paper makes for gripping reading to anyone who has spent the majority of their professional life in the financial markets. In various turns, the authors end up arguing that much of what we think we know about the financial crisis is, in fact, not actually rooted in fact at all." Read more here.