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Nullius in verba
Fannie Mae and Freddie Mac were victims, not culprits - BusinessWeekAs should Bill Clinton
Deflection.
Have you ever heard of Freddie and Fannie?
Do you have any idea what their role was in the meltdown? Hint: They were the binary financial black holes at the epicenter of it
Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. Thats right most subprime mortgages did not meet Fannie or Freddies strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrowers income or employment history? All made in the private sector, without any support from Fannie and Freddie.