https://pjmedia.com/richardfernandez/2008/12/20/the-march-of-folly/feed/PJ Media is a leading news site covering culture, politics, faith, homeland security, and more. Our reporters and columnists provide original, in-depth analysis from a variety of perspectives.en-usWed, 10 Jun 2026 11:06:02 -0400<![CDATA[A long time Belmont Club commenter sends this link to a report by the Independent Institute called the Anatomy of a Train Wreck: Causes of a Mortgage Meltdown. He writes: &#8220;It is one of the best pieces that I&#8217;ve seen on the mortgage meltdown. It is especially interesting in that it uses foreclosure data to show that the problem was not a subprime mortgage problem, but a mortgage problem full stop, resulting from relaxed underwriting driven by political agendas.&#8221;]]>Sat, 20 Dec 2008 14:35:36 -0500<![CDATA[Richard Fernandez]]>https://pjmedia.com/richard-fernandez/2008/12/20/the-march-of-folly-n186840