Shorter Orson Scott Card

The mortgage crisis is the greatest scandal of the past ten years, it's all the Democrats' fault because they were paid off by Fannie Mae, though the media is also to blame for not reporting this, but they won't because they are in the tank for the Dems!!!

I only post this as it's such a perfect example of conservative hackery and ignorance.

Facts can be funny things:

Subprime lending was at its height from 2004 to 2006.

Federal Reserve Board data show that:
* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
* Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.

(snip)

Fannie, the Federal National Mortgage Association, and Freddie, the Federal Home Loan Mortgage Corp., don't lend money, to minorities or anyone else, however. They purchase loans from the private lenders who actually underwrite the loans.

Note, 2004 to 2006 was when the Republicans were in total control of the federal government.