Correction: I said that five years ago, the administration recognized the need for reform of Fannie and Freddie, which I don't think is at all at odds with the assessment that the economy is basically sound.  What we are experiencing now is what is known as a market correction, which happens from time to time.  The government's interference in the market will, as always, result in more harm than good.

You should read "The Forgotten Man" by Amity Shlaes, a book that details how the interventionist policies of Presidents Hoover and Roosevelt made the Depression worse than it would have otherwise been.

Regards,
Scott Perry