Jonah Goldberg on the "stunning revelation" that Fannie and Freddie knew that their lending practices would lead to disaster well over a year ago.
Of course they knew that their lending practices were unsound. They still felt the barrel of the gun that the Clinton administration had put to their collective heads. They were doing what they had been instructed to do.
In light of this "revelation," I'm sure that there will be inquiries and hearings with much consternation and outrage from Democrats. Which will be like a coven of foxes demanding to know why the henhouse was left unprotected. It will be amusing to see whether or not Barney "the Kickback King" Frank looks down his nose and Fan/Fred execs in feigned outrage. That will seem slightly less hypocritical than Jamie "the Wallbuilder" Gorelick demanding answers on the 9-11 Commission. Maybe.
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