News from the future

Just imagine if all your wishes came true: In a surprise announcement, the House Democratic leadership (present and former) took full responsibility for the historic housing bubble and recession of 2008-10. “Our bad,” asserted former Congressman Barney Frank.

“We just forgot that threatening the banks into underwriting mortgages for those with no income and bad credit scores could backfire … And, how were we supposed to know the Clinton addministration would get Fannie and Freddie to lower their underwriting standards at the same time?”