This post was originally published on September 28th, 2008.  It has been slightly modified from a previous version of the site.

On September 30th, 1999, Steven A. Holmes wrote this article – Fannie Mae Eases Credit to Aid Mortgage Lending

Paragraph 8:
“”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.””