Fannie Mae and Freddie Mac were key in creating the housing bubble. A lot of politicians walked away with their family coffers full , including John McCain and Harry Reid whose families are heavy into real estate sales and development.
Ask yourself why Fannie and Freddie insisted to banks that they not have tax returns in the mortgage records of the borrowers,and why they accepted such pro forma over valuations of mortgage properties by the millions.Affirmative action lending, and it still continues as this is being written.
And then there is the budling art of selling them in high risk/low risk groups o the post secondary mortgagae market. Hello Europe/Goodbye Europe!
They are perpetrators of a huge PONZI scheme IMHO.
Every American has a right to have a house and an SUV in the drive.s/
B U M P