TightWind is written by Kyle Baxter. Stay Hungry. Stay Foolish.

Despite the financial crisis, caused in part by the Federal government’s requiring Fannie Mae and Freddie Mac to support subprime mortgages, the Federal government has learned nothing:

Most important, by taking over the companies, lawmakers have gained a lever over the housing market and national economy that many — particularly Democrats — are loath to discard, legislators say.
…
Moreover, the takeover has provided legislators with a long-sought ability to influence the mortgage marketplace directly and pursue social goals like low-income housing.

Absolutely insane, but these are the times we live in. This is the economic and political equivalent of touching a hot stove, and rather than learning not to touch hot things, embracing it like a long-lost lover.