Even as the meltdown of the housing and mortgage markets has deflated home values, touched off a rush of foreclosures, triggered a federal bailout of the mortgage giants Fannie Mae and Freddie Mac, and resulted in a massive restructuring on Wall Street, the larger economy has muddled on. -
Financial Crises Have Slowed But Not Halted U.S. Economy
Even as the meltdown of the housing and mortgage markets has deflated home values, touched off a rush of foreclosures, triggered a federal bailout of the mortgage giants Fannie Mae and Freddie Mac, and resulted in a massive restructuring on Wall Street, the larger economy has muddled on.-
By Michael A. Fletcher