MICKEY KAUS: “Does Krugman not know that Fannie Mae was a huge buyer of subprime mortgages, including mortgages from Angelo Mozilo’s Countrywide? David Smith’s eerily prescient AHI blog noted that Fannie Mae and Freddie Mac reportedly bought $35 billion in subprimes in the first quarter of 2007 alone. . . . Could Mozilo have done his subprime thing without Johnson and Fannie Mae as a backup to purchase his junky mortgages?”

Plus, Jim Lindgren on Jamie Gorelick and Fannie Mae.