As Josh Rosner put it. “Talk about f’ing nerve as we pay his legal bills. He is disgusting and should crawl back into his spider hole.”

WSJ-

The former chief executive of Fannie Mae, in a rare public appearance Friday, argued that government policies weren’t the main cause of the housing bust, and that the government shouldn’t stop pushing to expand home ownership.

Speaking on a panel at a conference in Washington held by the National Community Reinvestment Coalition, a consumer group, former Fannie CEO Franklin Raines argued that an influx of investors into the housing market — rather than government policy — was the main cause of the market’s collapse.

“This has nothing to do with the average American family wanting to own a home,” Mr. Raines said. “This was rank speculation that was being financed out of Wall Street with no questions asked. That is what caused this crisis. Blaming people — ordinary people — who tried to own a home for this crisis is simply wrong.”

[WALL STREET JOURNAL]

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