from Peter Wallison’s latest paper on Fannie and Freddie: “The GSEs also paid for academic research to assure the public that the GSE mission was worthwhile and that the GSEs posed minimal risks to taxpayers. For example, Nobel laureate Joseph Stiglitz coauthored an article in 2002 purporting to show that the risk of GSE default producing taxpayer loss was ‘effectively zero.’” Wallison links to that article, which Stiglitz wrote with Jonathan and Peter Orszag (the current head of the Congressional Budget Office).