Wednesday, June 24, 2009

Congressmen Ask Fannie and Freddie to do What?

Congressmen Barney Frank and Anthony Weiner have written a letter to the CEO's of Fannie Mae and Freddie Mac asking them to lower their lending standards. Many people (myself included) believe this is a big part of how we got into the housing crisis in the first place. Amazing.

Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.

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