What drove the housing market crash in 2008? Is today’s federal housing policy leading us back to the same place we were when the bubble burst? In what form do the GSEs, Fannie and Freddie, exist today and how does that impact home ownership in the US? Who regulates the regulators? How do we stop another “government-sponsored Enron”?
There is no one better positioned to answer these questions than Bethany McLean. McLean is the co-author of “The Smartest Guys in the Room,” which told the story of the rise and fall of Enron. She is a columnist for Fortune magazine and a contributing editor for Vanity Fair. Her new book, “Shaky Ground,” is a must-read primer on the housing market, what happened and what did not and what is happening today that should not be and what is not happening that should be. Dan Proft sits down with author, columnist and CNBC contributor Bethany McLean in this edition of Against The Current.