Tuesday, October 7, 2008

Messy Fannie Mae

Charles Duhigg had an in-depth report on the mess of Fannie Mae. For example, one paragraph says:
Whenever competitors asked Congress to rein in the company, lawmakers were
besieged with letters and phone calls from angry constituents, some orchestrated
by Fannie itself. One automated phone call warned voters: “Your congressman is
trying to make mortgages more expensive. Ask him why he opposes the American
dream of home ownership.”