Laura Ingraham hosted Peter Wallison.
Wallison explained the stock market's up and down, now affected by the Italian elections.
Wallison said the financial crash was bipartisan and that politicians were finger pointing to each other. The bottom line was the government created demand for housing and said the mortgage system must be reformed before our economy becomes more stable. He said the problem emerged in the Carter administration when it was thought good to help those who couldn't handle mortgages. The government intervened which perverted the markets and over time led to the Great Recession.