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Times Glad 'Wide-Eyed Admiration' for Wall Street Is Over

By Implode-Explode Heavy Industries

"The government-backed housing finance giants Fannie Mae and Freddie Mac didn't appear in the article, even while their main defenders, Democratic senators Barney Frank and Chris Dodd (who called them ?fundamentally strong? in June 2008) were quoted in triumph. That's because Fannie Mae and Freddie Mac are missing from this celebrated re-regulation, even though they've cost taxpayers $160 billion in mortgage losses so far."

Full post as published by Mortgage Lender Implode-o-Meter on July 16, 2010 (boomark / email).