Here’s another good column from Thomas McClanahan of the Kansas City Star, Fannie, Freddie lit match for our conflagration. Very slowly the real story is making its way into the newspapers. Though, this is an opinion piece by one of the two or three public conservatives the Kansas City Star has on staff.
McClanahan sums it up nicely in his final paragraph:
At the top of the to-do list for the financial crisis commission should be finding out who was responsible for lying to the public about the mortgages bought by Fan and Fred, using money backed up by taxpayers.
Though, I must emphasize, very slowly. If the financial crisis commission finds the truth they may find a few people who are heralded by the media and are playing important roles in shaping legislation and running agencies in DC now.
Further imagine if the truth were that these people had names like John McCain, Sarah Palin and George W. Bush (which they don’t), but imagine if they do. If these people lied to the public, don’t you think we’d all know about it by now? The major newspapers would be drilling it home, TV news and magazine shows would have had deep exposes, Saturday Night Live would have performed skits.
But, since the truth doesn’t fit the narrative it will likely stay on the recesses of the opinion pages for some time to come.