Support Of Fannie And Freddie: Bipartisan And Beyond Words

Thomas Sowell reports:

Congressional support for Fannie Mae and Freddie Mac went far beyond words. When the Office of Federal Housing Enterprise Oversight — the agency overseeing these government-sponsored enterprises — turned up irregularities in Fannie Mae's accounting and in 2004 issued what Barron's magazine called "a blistering 211-page report," Republican Sen. Kit Bond called for an investigation of the Office of Federal Housing Enterprise Oversight, tried to have their budget slashed and sought to have the leadership of the regulatory agency removed. Democratic Congressman Barney Frank likewise declared: "It is clear that a leadership change at OFHEO is overdue."

Understanding fascist economics American style.