Thinking of blaming Bush for Fannie & Freddie? Try again. Here is a report in May, 2006 by OFHEO (Office of Federal Enterprise Oversight) regarding the state of Fannie Mae and Freddie Mac. The truth is, OFHEO under the Bush administration sought to reform the agencies but they fought it tooth and nail with their lobbyists and Congressional Democrats as allies. A scorched earth policy was pursued as they sought to destroy all opposition. While the agencies stifled all criticism, they engaged in reckless lending policies. No down payment loans given to borrowers with 580 credit scores and 55% debt...