Fannie Mae-No Politics (FNMA)

[big-yank]

You and I are in accord throughout your entire message until the point where you say the government had no plan to replace the GSEs. Actually, Timothy Geithner laid out 3 fairly specific approaches to doing precisely this. The problem became the political intransigence and unyielding polarity in the House and the brinksmanship with an even worse and potentially lethal catastrophe for the U.S. than just the financial crisis. That would have been the default by the government on its sovereign debt and destruction of its credit worthiness on a global scale as Tea Party advocates and the balanced budget toxic cocktail of demagogues like Grover Norquist and Paul Ryan clearly domonstrated their willingness to throw America's economy under the bus to satisfy their myopic, self-serving and very narrow political agendas. THIS IS WHY the GSEs got bled dry and put at risk. Don't blame Obama. Don't blame Bush. Don't blame Hank Paulson. Don't blame Tim Geithner. Don't blame Ed Demarco. Don't blame Mel Watt.

Grover Norquist and Paul Ryan stole your Fannie. They bled them to naively try to wind back the stupid debt clock in Times Square. Their's was a mindless pursuit of a political win at any cost.

JMHO.