That was then:Six years ago, in September 2003, when then President George W. Bush (R) proposed placing Fannie Mae and Freddie Mac under the supervision of a new agency within the Treasury Department because of deep concern whether its $1.5 trillion mortgage debt was properly run and because of charges of accounting irregularities, Rep Barney Frank (D-MA), head of the House Financial Services Committee, which oversees these two government backed agencies, retorted, as reported by the NY Times:''These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''This is now:Less then a week after Senator elect Scott Brown (R-MA) overturned politics in Massachusetts (yes, even I can spell it without spell...(Read Full Post)