On November 24,1966,he married the former Frieda Koslow (born in New York January 15,1943,A.B. Smith College 1963,LL.B. Harvard Law School 1966 admitted to New York bar in 1967,D.C. bar 1982). They have three children,Ethan S.,Jeremy L.,Rebecca K. Mrs. Wallison develops real estate in Snowmass,Colorado.[5][6][7][8][9]
1999–present American Enterprise Institute,codirector of AEI's financial markets deregulation project.[4]
Other
In 1999,Wallison told New York Times reporter Steven A. Holmes that the expansion of mortgage loans by reducing the amount borrowers have to put down and extending loans to so-called subprime borrowers was creating a situation where Fannie Mae was taking on significantly more risk. "From the perspective of many people,including me,this is another thrift industry growing up around us," he said. "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."[10] The article pointed out that the Clinton Administration had put pressure on Fannie Mae to lower standards "to expand loans among low and moderate income people."
Wallison's writing on the cause of the 2008 financial crisis have brought much comment. In December,2011,the New York Times financial columnist Joe Nocera stated that Wallison had "almost single-handedly created the myth that Fannie Mae and Freddie Mac caused the financial crisis."[11] Calling it "a big lie," Nocera suggested that Wallison had engaged in a deliberate deception. Economist Paul Krugman has also accused Wallison of deception,[12] criticizing him for—among other things—attacking Fannie and Freddie in a magazine article just a year before the subprime mortgage collapse for not doing a "better job of providing affordable home financing to a neglected portion of the mortgage market." This neglected portion consisted of "African-American ... Hispanic",and "low-income borrowers".[13][14][15] Wallison cites New York Times columnist Gretchen Morgenson exposing how "Democratic political operative Jim Johnson turned Fannie Mae into a political machine",and dismisses the exoneration of the GSEs as "the big lie."[16]
(With John D. Hawke,Jr.) The State Banking Revolution and the Federal Response:New Frontiers of Financial Service Expansion,Law and Business/Harcourt Brace Jovanovich (Clifton,NJ),1984.
State Banking Regulation and Deregulation,Law and Business/Harcourt Brace Jovanovich (New York,NY),1985.
Back from the Brink:A Practical Plan for Privatizing Deposit Insurance and Strengthening Our Banks and Thrifts,AEI Press (Washington,DC),1990.
(With Bert Ely) Nationalizing Mortgage Risk:The Growth of Fannie Mae and Freddie Mac,AEI Press (Washington,DC),2000.
(With Robert E. Litan) The GAAP Gap,AEI Press (Washington,DC),2000.
(Editor) Optional Federal Chartering and Regulation of Insurance Companies,AEI Press (Washington,DC),2000.
(Editor) Fannie Mae and Freddie Mac: Public Purposes and Private Interests, Volume 1: Government Subsidy and Conflicting Missions, Volume 2: Prospects for Controlling Growth and Expansion, AEI Press (Washington, DC), 2000, ISBN0-8447-7137-6 (alk. paper), ISBN0-8447-7138-4
(Editor) Serving Two Masters, Yet out of Control: Fannie Mae and Freddie Mac, AEI Press (Washington, DC), 2001, ISBN0-8447-4166-3 (pbk.)
↑ "Higher GSE Limits Would Hit Those Who Need Help". Archived from the original on November 1, 2012. Retrieved 2013-06-26.{{cite web}}: CS1 maint: bot: original URL status unknown (link) | Peter J. Wallison, John J. Lafalce | American Banker|March 03, 2006
↑ Nocera, Joe, Explaining the Crisis With Dogma, nytimes.com, December 17, 2010. Nocera quotes Wallison writing in 2004: "Study after study have shown that Fannie Mae and Freddie Mac, despite full-throated claims about trillion-dollar commitments and the like, have failed to lead the private market in assisting the development and financing of affordable housing." Accessed 3 July 2013.
American Banker, August 14, 1992, Claudia Cummins, "Former Reagan Official Still Fighting for Banks, " p.2.
Banker Monthly, September, 1990, Andrew Gray, review of Back from the Brink: A Practical Plan for Privatizing Deposit Insurance and Strengthening Our Banks and Thrifts, p.87.
Journal of Economic Literature, June, 1991, review of Back from the Brink, p.688.
Kirkus Reviews, November 1, 2002, review of Ronald Reagan: The Power of Conviction and the Success of His Presidency, p.1604.
Publishers Weekly, November 18, 2002, review of Ronald Reagan, p.50.
Wall Street Journal, December 24, 2002, Mary Anastasia O'Grady, review of Ronald Reagan.
Women's Wear Daily, February 19, 2003, Aileen Mehle, review of Ronald Reagan, p.6.
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