Going down like the Titanic ..

More bleak news on the potential fates of Fannie and Freddie this morning.

It sure was smart of Congress to require them to take as many crappy loans as they could find all in a scheme to temporarily increase home ownership. Soon every used car salesman in the lending business knew he could write any loan he wanted and there was someone out there dumb enough to buy it (because Congress gave them no choice). Now we pay for it all .. in the trillions!! Certainly makes this observer wonder how much better off we all might be without so many enterprises risking everything knowing that the taxpayers could come in and save the day if things turned sour.

Don't forget to check back to Dan's Deep Creek Blog for future updates.