As Fannie, Freddie, and the FHA all go bankrupt one day, I anticipate the debates about who caused the problem.  Was it:

the Fed for keeping rates so low and causing a bubble?
Congress for requiring and pushing the lenders to make loans to people who could not afford them?
the banks for their “predatory” pricing and foreclosure [...]

So Obama finally states the obvious.  The federal debt load is unsustainable.  He also warned that interest rates may skyrocket. 
Really?  You think?  I just wish that Obama would have confessed that his spending programs are the reason for it.  Of course, he would never take responsibility for that.  That is Bush’s fault, like everything else [...]

Moody’s issued a negative outlook on municipal bonds and this is how Barney Frank responds…
“I am troubled by the action of Moody’s Investors Service to issue a
negative outlook across the board on America’s municipalities, which
could raise the interest rates on cities and towns making it more
expensive to borrow funds for infrastructure improvements. Today’s
action could result [...]

On Tuesday, the Federal Reserve cut the federal-funding rate to between 0% and 0.25% allowing banks to borrow for relatively nothing.  As a result, mortgages are now available at 5.25%.   The same day, Pres Bush stated that the Gov’t is looking at a bond-buying program which will allow Fannie and Freddie to offer fixed-rate loans [...]