Root of the problem escapes Democrats. The Democrats created the mortgage bubble with their "affordable housing" ("affordable housing" is giving mortgages to undeserving borrowers). As we all know, this bubble has burst. Our saviors, the Democrats, seek to rush in and heroically solve the problem (which they created). But surprise, they are not going to reform Fannie and Freddie. Why? Because this is how they buy votes from their taker constituency.
An overhaul that completely skips the problem. They think we are fools.
AP | Jim Kuhnhenn WRITES:PTTF
Fixing the government-sponsored mortgage giants Fannie Mae and Freddie Mac was put off for another day.
The two companies lowered their standards for borrowers during the housing boom and now those high-risk loans are defaulting at a record pace. The government has been forced to rescue them to the tune of $145 billion.