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Right now, we’re all on the hook for the $145 billion sunk and gone into Fannie Mae and Freddie Mac. A lot of people blame Barney Frank — among others — for the slovenly and derelict and unethical stewardship of Fannie especially, which is sort of unfair: a government bank, backstopped by the American taxpayer, was eventually going to get into trouble.
The best version of Frank’s complicity is here, by the excellent and always thoughtful Patterico.
Luckily, though, we’ve got this new Financial Reform bill on the way. That should take care of some of this, right? I mean, it’s over 2300 pages.
So how many pages are devoted to Freddie and Fannie?
Zero. Dodd-Frank doesn’t cover Fannie, or Freddie. And why should it? You’re covering Fannie and Freddie. So am I. So is every other taxpayer.Published in