In the history of mankind, many republics have risen, have flourished for a less or greater time, and then have fallen because their citizens lost the power of governing themselves and thereby of governing their state. TR
President Obama last week nominated Rep. Mel Watt (D-N.C.) to run the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the two agencies that caused the Great Recession Obama keeps blaming on George W. Bush. They did this by promoting policies that allowed them to own billions of dollars in home loans made to people who couldn’t afford to buy homes. And
POLITICO has a good rundown on newly installed National Security Adviser Tom Donilon’s career, with a detailed examination of his time as a lobbyist for Fannie Mae. From the story: One part of Donilon’s résumé that went unmentioned in the Rose Garden Friday — the six years he spent as a top executive of Fannie Mae at the height of the housing boom — made him a