I've documented lots of times here how Fannie and Freddie, not free-market entities but government-sponsored enterprises, were the fuel to this whole credit fire that burned down the financial war. They provided about $6 TRILLION in loans, and now we now significant parts of that were to borrowers who ere less than stellar, but received these loans in the name of "affordable housing".
See:
We Told ya...
Under Clinton, Welfare Counted as Income for A Home Loan
(that last one has several other links as well).
Now the Republicans have finally come out with a good attack ad that shows the dem's defense of Fannie and Freddie...
[hat tip: instapundit]
More at The Pantheon Journal.
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