As mortgage arrears and defaults mounted up, Fannie and Freddie did not mark down their mortgage holdings to realistic prices. They said they would do this in a year or so — by 2009, after the Bush Administration’s deregulators have left office. The idea was to blame it all on Obama when they finally failed.
Tuesday, September 9, 2008
Fannie and Freddie buyout one more Republican ploy?
Posted by Thom Foolery at 1:39 PM