There is no doubt that easy credit and the ability of unqualified buyers to obtain it and the propensity for mortgage lenders to provide it has created a significant strain on the economy, which will cost the taxpayers billions.
The left, has been quick to blame the GOP, almost entirely for the failure of mortgage giants like Fannie Mae and Freddie Mac. Speaker Nancy Pelosi certainly said as much prior to today’s vote on the Wall Street Rescue package. But as with most things in Washington the issue is a bit more complex.
Indeed, it was the left who opposed reigning in the free wielding tactics of Fannie and Freddie and as a result a collapse was inevitable. In the era of modern media, such a reality is inescapable, save those who refuse to see that which is obvious.
