From The Freeman
By Sheldon Richman
The key to understanding the saga of Fannie Mae and Freddie Mac—the recently nationalized twin government-sponsored enterprises (GSEs) that dominate home financing—is this: They were set up—intentionally—to distort the housing and mortgage markets. Government planners were not content to let voluntary exchange and spontaneous market forces configure those industries unmolested. So—holding the taxpayers hostage—they intervened.
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Rush Limbaugh nailed it when he said that if any Republican fingerprints were on the financial crisis, that person would be known throughout America and would be subpoenaed to appear before Congressional committees.
It is clear that the group most responsible for requiring lending institutions to make loans to unqualified borrowers is the Congressional Black Caucus and their liberal allies.
They had an incestuous relationship with Fannie Mae and Freddie Mac and did all they could to protect the taxpayer-funded, cash cow for the benefit of all in the family. Among the Congressional Black Caucus, no member received more protection money from Fannie Mae than did Barack Obama. With a Hat Tip to Savage Politics who made this video, here they are, in their own words, defending the family "enterprise:"
From The Freeman 
