Massachusetts Congressman Barney Frank  sent a letter to the CEO's of both Fannie Mae and Freddie Mac asking them to relax standards on some condominium mortgages.  Yes, you read that correctly.  The shoddy underwriting standards that contributed to our Nation's financial problems apparently haven't taught Barny Frank a thing. 

     I'm sure the Congressman could easily defend this decision, since the financial crisis was due exclusively to corporate greed, and had nothing to do with borrowers spending more than they could afford  (that's his story, and he's sticking to it).  Maybe I'm mistaken, but these unsold condominiums would eventually sell once the price reflected their true value.  This could happen without government intervention.  It would rely on something called supply and demand.