ABOUT TIME: “With Fannie Mae and Freddie Mac now under federal control, some people are paying attention not just to the housing market conditions involved in their downfall but also to the mismanagement and corruption that helped cripple the federally-backed mortgage companies.” These places have provided lucrative employment for ex-members of Congress, and used those members to lobby for lax regulation. Corruption and other people’s money — a common recipe for failure.

Meanwhile, Mickey Kaus notes a Jim Johnson omission on the part of NPR.

UPDATE: Related item here.