The Political Origins of the Financial Crisis: The Domestic and International Politics of Fannie Mae and Freddie Mac

For much of the last decade it was clear that the commercial operations of the government-sponsored enterprises Fannie Mae and Freddie Mac were creating an increasing systemic financial risk. That risk was compounded by the fact that the Japanese and Chinese central banks were acting as cheap creditors. The Bush administration and some Republicans in Congress made efforts from 2001 to create a tougher regulatory framework for Fannie and Freddie. Fannie and Freddie were able to defeat these attempts to constrain their operations by a four-fold political strategy involving campaign contributions to members of Congress, a vast lobbying apparatus, the cultivation of a political language around affordable housing for minorities, and abusing and smearing their regulator. Since Japan and China understood that the US government would have to assume Fannie and Freddie's liabilities in a crisis they had no incentive to expose the political fiction that it would not.     

SELF-CONCEPT, DELINQUENCY, AND POSITIVE PEER CULTURE

This is an empirical attempt to assess juvenile delinquency and correction. in an institutional setting, in terms of agency and communion (two aspects of self) as defined by Bakan (1966). The Jusness Inventory, a standard inventory for assessing social adaptability and conformity, used with a multi scaled index was employed on juvenile delinquents in a positive peer culture program items of the Jesness Inventory judged to be a genetic and communal are listed.