Forbes: "Bad Loans, Federal Reserve to Blame for Recession

By: The Associated Press
By: The Associated Press

Steve Forbes, the executive, editor-in-chief of Forbes magazine, largely blames government for the longest recession since the Great Depression.

Forbes said among the culprits are Fannie Mae and Freddie Mac for guaranteeing the bad loans and the Federal Reserve for continuing to print money.

Forbes was in Clinton Monday for a fundraising event for Mississippi College's scholarship program.

Forbes told The Clarion-Ledger that there would never have been a housing bubble if the money wasn't there to finance it.

The former Republican presidential candidate continues to tout a flat-tax proposal that would charge everyone 17 percent.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTOK-TV 815 23rd Ave Meridian, Ms. 39301 Phone: (601) 693-1441
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 89523837 -
Gray Television, Inc.