Paul Volker Says Fannie and Freddie Are a Bad Idea

The Huffington Post reports:

"Fannie Mae and Freddie Mac were not a good idea in the first place," Volcker said. "This hybrid public, private thing sooner or later was going to get you in trouble -- and it sure got us in trouble big time," he said. "I hope we don't go back to that model."

Here's a March 2004 warning a America's rogue institutions.