Wow. He argues that a financial collapse caused by two quasi-governmental businesses giving out loans too liberally due to a decade of government pressure is the end of Libertarianism. If anything, it feels more like the beginning.
"Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent.... One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards."
