Bailout Blame

U.S. Representative Barney Frank (D-Mass.) , chairman of the House committee of jurisdiction over the bailout, points a finger with a bloody hand over the mortgage meltdown on Wall Street.

In 2005, when the House was considering stronger regulation of Fannie Mae and Freddie Mac, the government sponsored enterprises (GSEs) which contributed greatly to the meltdown, Rep. Frank argued that Congress should have greater control over GSEs than the executive branch.

He quoted a latin phrase: "Who is watching the watchers." Who is watching the watchers, indeed.

The Bailout

I intend to post articles and analysis of the U.S. presidential election, but will need time to dig through my files.

In the meantime, start with this quick and easy primer on the mortgage meltdown, government sponsored enterprises (GSEs) and the bailout.

Now find out how we got here.

Facts are stubborn things indeed.