"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient. Full Story »
Posted by Chris Finnie
The article emphasizes the impropriety of a GSE paying big money to lobby congress in opposition to being regulated. Most of the money went to lobbying and supporting Republicans, but the dems are shown culpable of opposing the regulation. There is no complete explanation of why the congress critters claim to have opposed the regulation. There is no thorough examination of political contributions to all the opponents on both sides of the aisle.
