Congress Tries to Duck Blame, Blame Others

From U.S. News editor, Mortimer Zuckerman: "The problem is that the Obama administration is eager to blame the economic decline on a bunch of “fat-cat,” “greedy bankers” from Wall Street who were bailed out by the government. The president himself stated to the bankers, “You guys caused the problem.” They did not. These particular problems were caused by the bubble in the housing market created in large part by Congress. Democrats who seek to cast Wall Street as the villain forget the congressional mandate they placed on Fannie Mae and Freddie Mac to put 55 percent of their funding into mortgages for people at or below the median income. This SEC civil fraud charge against Goldman conveniently fits into their political agenda."