The Silence on Investigating Fannie and Freddie

CS Monitor reports:

In a bid to fix blame for the meltdown in financial markets, the lead House oversight panel this week launched into the bailout of insurance giant American International Group (AIG) – and the non-bailout of Lehman Brothers investment bank.

Next week, it's the turn of high-flying hedge fund managers, once earning $1 billion a year, plus; then, the rating agencies who assured investors that all was well and the federal regulators who let it all happen.

But conspicuous for their absence – at least before November elections – are former executives of mortgage giants Fannie Mae and Freddie Mac, now in federal conservatorship.

Congress sure is a joke.