Monday, October 20, 2008

Walking free from the wreckage

The people who have the most to gain from the predicted Democratic domination of Congress include several who are most at fault for the destruction of the mortgage market and the resulting financial catastrophe.

One is Rep. Barney Frank of Massachusetts, who was among the most forceful advocates of mandated mortgages for high-risk borrowers. Another was Sen. Chris Dodd of Connecticut. They, along with Sen. Barack Obama, are also among the politicians most favored by largesse from Freddie Mac and Fannie Mae, the intermediaries in the scam.

If large Democratic majorities ensue, as predicted, they are likely to escape any retribution, or even criticism, for their roles.

No comments: