Freddie Mac-No Politics (FMCC)

[Dobie Lama]

Let's be fair here. Both Reboobplicans and the Democrats helped pass legislation that allowed FRE and Fannie to be able to buy junk loans, package them up and sell them off as investment vehicles.

It sounded like a good idea at the time, allowing more lower income workers( and others) to purchase homes they otherwise could not afford, if it were not for the no-down, low-down, no doc loan products.

Both parties must share the blame. The party was good while it lasted and now its time to pay the piper.