The economy was sunk by things like this. Pay New York Times editorial level attention to this house of cards built by scant government oversight and supported by Democratic insiders, because this is indicative of the kind of politics Democrats, liberals, and progressives are likely to continue.
On the other hand, pay no attention to the house of cards built by highly financed real estate developers and supported by GOP insiders. This is not indicative of the kind of politics Republicans, conservatives and God-fearing Americans are likely to continue. You can trust them not to do this again, they wear American flag pins on their lapels.
Now, repeat after me, "Fannie Mae was the problem." There is no need to look anywhere else or entertain the idea that dipping your hands in the real estate bubble is historically the most bipartisan American political activity.
Hat tip to Kyle Wingfield at the AJC who reminds us that:
Fannie Mae did all those things that Democrats accuse Big Oil, Big Finance, the military-industrial complex, et al. of doing.
< / sarcasm >