#2 Fannie and Freddie were managed by thieves who got rich on the backs of poor people who got overcommitted. In fact they were encouraged to get in over their heads. You could get a loan, in some instances, if you were bankrupt.
Barney Franks, Dodd were vote trolling. They were also getting hefty campaign donations from Freddie and Fannie. There were others too. Fannie's and Freddie's books were cooked to make them look good when they were in bad shape because of toxic loans. There is much fraud and corruption going on here.
...And we taxpayers are asked to bend over, grab our socks, be patriotic and like it when we take it once again. |