Repeating the mistakes of the past on housing

Nick Nicholas:

Just when I thought that those in Congress responsible for the collapse of the housing market had diverted their attention to the destruction of other sectors of our free market economy (health care and energy), up pops Barney Frank and his trusty sidekick, Anthony Weiner. Turns out, they are once again pressuring Fannie Mae and Freddie Mac to relax recently tightened standards on loans for new condominiums.

That is right folks, socialist hot dogs, Frank and Weiner, are at it again. According to the Wall Street Journal (a publication that can still be called a newspaper), the two democrat lawmakers have sent a letter to Fannie and Freddie claiming that the government sponsored enterprises should “make appropriate adjustments,” because the new, tighter standards for condo loans “may be too onerous.”

...
It was requiring lenders to make bad loans that caused this mess to begin with. Franks is supposed to be a smart guy, but this clearly is the opposite of smart. It is also irresponsible.

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