You thought you knew the truth?
Here's what Barney Frank said in 2004 (he's first speaking at about the 5-minute mark):
Now he says this:
So, Barney, can you please tell me why they've been allowed to accumulate and own over 50% of all mortgages? And why exactly would we want the government to build something new?
Read the full article here: http://hotair.com/archives/2010/08/18/frank-abolish-fannie-and-freddie/?print=1
And then, if you have the stomach, read this: http://articles.moneycentral.msn.com/Investing/JubaksJournal/fannie-and-freddie-must-die.aspx
I Really Hate Living In The Twilight Zone...