These three studies are: 1. Sizing Total Exposure to Subprime and Alt-A Loans in the U.S. First Mortgage Market as of 6.30.2008, 2. Sizing Total Federal Government and Federal Agency Contributions to Subprime and Alt-A Loans in the U.S. First Mortgage Market as of 6.30.2008, and 3. High LTV, Subprime and Alt-A Originations Over the Period 1992–2007 and Fannie, Freddie, FHA, and VA‘s Role.

The Securities and Exchange Commission's lawsuits against six top executives of Fannie Mae and Freddie Mac, announced last week, are a seminal event.

Testimonyregarding thesubprime mortgage crisis to the U.S. House of Representatives.

When the bubble deflated in 2007, an unprecedented number of weak mortgages went into default - those that were held or guaranteed by Fannie and Freddie, and those that had been securitized by Wall Street. This drove down housing prices and threw Fannie and Freddie into insolvency. 

Discolsures contained in SEC complaints further validate the necessity to look behind Fannie and Freddie's characterization of subprime loans.  

A few thoughts on recent research about the resilience of the economy and the need for financial regulation.

Mandatory use ofa simple mortgage disclosure formwould make borrowers better able to protect themselves by understanding what the mortgage really means to them, andpromote a more efficient mortgage finance system.

The optimistic forecasts of subprime recovery have not panned out.