The Looming Fannie and Freddie Scandal

The three videos below should be viewed in conjunction with these two posts at Charles Rowley’s Blog:

The Scandal At 1500 Pennsylvania Avenue, NW

The Scandal Widens to Both Ends of Pennsylvania Avenue

UPDATE: At The Wall Street Journal Peter Wallison reports: The Price For Fannie and Freddie Keeps Going Up–Barney Frank’s decision to ‘roll the dice’ on subsidized housing is becoming an epic disaster for taxpayers.

Wallison says:

Most of the damage was done from 2005 through 2007, when Fannie and Freddie were binging on risky mortgages. Back then, [Congressman Barney Frank. D-MA] was the bartender, denying that there was any cause for concern, and claiming that he wanted to “roll the dice” on subsidized housing support.

The one below is in stills and features audio from the Mark Levin Radio Show and Bill O’Reilly at Fox News. The language is strong and the speakers are passionate. It might be a bit much for some folks. But it’s the hard truth.

In this video Barney Frank says in July, 2008 on Bloomberg that Fannie and Freddie are not insolvent and will not need a bailout.

Republicans should be all over this. Will they? I don’t know, the Republican party is famous for missed opportunities.

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