Thursday, October 02, 2008

We own Fannie and Fred, let's investigate

"Now that Fannie Mae and Freddie Mac’s failures have forced the federal government to put both into conservatorship — costing taxpayers some $200 billion — Americans, who now own the two entities, are entitled to know what role the government-sponsored enterprises (GSEs) played in creating this mess." Here.

Will Nancy, Frank and Chris ever allow this? Barney Frank claims he didn't know his partner 20 years ago was running a gay sex ring out of Frank's home, and 2 years ago he stonewalled an investigation of Fannie. He's not going to get smarter, folks. Throw him out.

"So why didn’t Congress do anything about these taxpayer-financed “bastions of privilege” sooner? Lest anyone ask questions about what they were up to, Fannie and Freddie also showered elected officials on Capitol Hill with campaign cash to keep their mouths shut and vociferously defend their accounting practices."

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