Not that Cumo doesn’t deserve his share of the blame, but I’m guessing that this means he has been designated the scapegoat, to protect Reno, Frank, Dodd et al.

Duke is right, we need to get the government out of housing, it has only made things worse.

The whole sub-prime thing needs to stop immediately, Fannie and Freddie should then buy back all of the toxic assets they sold, de-tranche them, and then sell off the performing mortgages. Then we can liquidate Fannie and Feddie.