Fannie, Freddie asked to relax condo loan rules

Reuters "story".

"Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.

The legislators asked the companies to "make appropriate adjustments" to their underwriting standards for condos, the paper added."

What they need to do is disband Freddie and Fannie (and the Federal Reserve while we're at it), let the market set the interest rates and get the government / Fed out of the business of creating boom / bust cycles in our economy. At the very least, the Fed needs to focus on preventing inflation...instead of causing it, then contracting the money supply to combat it. Let the market decide.

Haven't they learned? Barney Frank helped get us into this financial mess by forcing Freddie and Fannie Mae to lower requirements to obtain loans.

"Free" money and easy credit is what got us into this mess and Frank and his democrat cronies had a huge hand in it to begin with. The Fed had a bigger hand, but Frank has culpability galore.

Now he wants to do it again!!!??? Only Massachusetts could keep voting these idiots back into office.

Edward Kennedy, Ed Markey, Gerry Studds (for real), Barney Frank, John Kerry.

It's like a walking freak show!