Fannie Mae commissioned economists across the political spectrum as lobbying ammunition

Evidence

Fannie was shrewd enough to understand that in order to push their agenda on Capitol Hill they needed to be supported by economists as well and so they started a series of papers where they would hire notable Conservative economists like Glenn Hubbard or progressive economists like Joe Stiglitz and Peter Orszag to justify various aspects of Fannie and Freddie’s mission, or dispel concerns about their safety and soundness, and really used those as lobbying points on Capitol Hill,” said Rosner. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 2264

Categorization

• SEED: Angle: how institutions rent academic credibility across the ideological spectrum — economists as hired lobbyists regardless of political stripe.
• XREF: Connects to the ‘thought collective’ thesis — economics as purchased legitimacy rather than neutral expertise. — connects to: American business anti-union factions recruited MPS economists for legitimacy — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 967; Economists serve the financial sector by muddying public debate to block political action. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 623; Central bank funding blurs whose interests academic economists serve — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 524 (+2 more)
• ADDENDUM: Relevant to the broader argument that economics functions as an interest-serving apparatus rather than disinterested science.

Broader Connections

• American business anti-union factions recruited MPS economists for legitimacy #corroborates (0.82) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 967
• Economists serve the financial sector by muddying public debate to block political action. #expands (0.75) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 623
• Central bank funding blurs whose interests academic economists serve #expands (0.72) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 524
• Chicago-trained economists spread neoliberal ideas among Chilean capitalists through business associations #corroborates (0.72) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1557
• Fieldwork-based development economists shaped MPS ranks and conservative policy #corroborates (0.72) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1362