Fannie Mae and Freddie Mac should be abolished, Rep. Barney Frank, chairman of the House Financial Services Committee, said Tuesday when asked whether the mortgage giants should play a role in housing market reforms.
So now you do? After pretending, just a few years ago, that nothing was wrong with these "government sponsored" entities (see video); that, in fact, they were doing an outstanding job, giving homes to the poor. Now you say they should be abolished, congressman, after passing the most pervasive financial reform bill in recent history that hardly even mentioned the two mortgage giants which caused the crisis in the first place?!