Mises Daily
Author:
David Stockman
Online Publish Date:
(Excerpt from THE GREAT DEFORMATION: The Corruption of Capitalism in America by David A. Stockman . Published by PublicAffairs.) Fannie Mae is a classic crony capitalist progeny of the New Deal that began life in 1938, quite innocently, as still another ad hoc New Deal program to boost the depression-weakened housing market. It grew into