I think they’re trying to distract people from Obama’s failures by going after the banks. The administration will blame them for the miserable economy (and the case probably won’t even be settled before the 2012 elections anyway, so the actual result at this point is moot to them- it’s all about the rhetoric).
Of course, the unintended consequence of this will be that the economy gets worse as the banks get beat up, and the underlying problems of Fannie-Freddie (and everything else) never get addressed. Idiots.
As if no blame attaches to Fannie and Freddie, and to government policies that seemed to put the full-faith and credit of the US Treasury behind these two private agencies. The irony is that when the state of Georgia realized that lenders were bilking the poor who were supposed to benefit from easy loans, Frannie and Freddie were among those lobbying to strangle that law. The heads of the two agencies, such as Johnson and Raines, made out like Bandits, along the ratings agencies and the banks. No one is talking about making them cough up their money, or goinr to jail. We won’t mention certified crooks like ChrisDoDD.