The View From 1776
Thursday, July 24, 2008
Liberal-progressive-socialist icons ranging from Congressman Barney Frank and Senator Charles Schumer to New York Times polemicist Paul Krugman have aggressively defended the fraudulent accounting and reckless lending practices of Fannie Mae and Freddie Mac, ostensibly in the name of low-cost housing.
Without liberal-progressive help, the subprime mortgage bubble would not have expanded to its ultimately gigantic proportions.
Read The Fannie Mae Gang by Paul A. Gigot, the editorial page editor of the Wall Street Journal.