The problems with current mortgage crisis, according to John "Why doesn't Jimmy Choo make Flip-Flops" McCain & his running mate Sarah "The Reformer" Palin is due to "long-term mismanagement and flawed structure" of Fannie Mae and Freddie Mac. As a matter of fact, the Republican ticket vowed to restructure the failed organizations in a WSJ editorial:
Fixing Fannie and Freddie, and reforming our mortgage and financial markets, is critical to getting the housing market and the entire economy moving again. A great deal of the savings and wealth of American families is wrapped up in the value of their homes. A house has traditionally been the wealth-building course to retirement. The housing industry employs millions of Americans. One of us, John McCain, said over two years ago, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose."
Fannie and Freddie's lobbyists succeeded and Congress failed. Under our administration this will not happen again
Apparently, the start of that restructuring has begun already - and it's started with the McCain-Palin Campaign who have hired Fannie/Freddie lobyists to play critical parts in their campaign and the transition team for their planned administration.
Ah, that odor wafting from "The Reformer's" headquarters must be the sweet smell of
change fermented bullshit.