Look-Fannie and Freddie are the least of our worries believe me. This is a huge problem. You are thinking as a Republican who wishes to blame the Democrats. It’s not that I don’t admire this sort of thinking. But it is not true and won’t work. Everyone acknowledges that while Fannie and Freddie were problems...they in no way caused this catastrophe. You have to assign blame where it belongs-Wall Street bankers. Now they need to change their behavior. Thus must be held accountable.
Congress caused this problem, Fannie and Freddie turned it into a business.
You have to assign blame where it belongs-Wall Street bankers.
Wall Street bankers playing by the rules set up by Congress turned the subprime fiasco into a (temporarily) profitable business. A business not possible without Fannie and Freddie turning piles of subprime mortgages into (fake) AAA paper.