For two years now, a bigger scandal than Enron has been bubbling away quietly, almost ignored by the mainstream media. It certainly has not made the media the way Enron and Worldcom did. Why? Well, maybe because the culprits aren’t evil capitalists; they’re “good socialists” : i.e.: they work for an organization set up by the government and backed by taxpayer funds. Which is why we’ll have to bail out Fannie Mae to the tune of $11 BILLION if it fails. AHI has a good rundown on the events so far.

However, it’s based around all the things that did make it into the media, however obscure the reporting was. What it doesn’t address is this: What is the Fannie Mae’s Foundation’s connection with radical organizations like La Raza, MALDEF, the Lawyer’s Committe on Nuclear Policy, Human Right’s Watch? Well according to this, they help fund them. (Link takes 2-5 minutes to load).

Someone want to explain what a quasi-public entity, whose board is appointed by the president and whose solvency is guaranteed by taxpayer funds, is doing engaging in this sort of nonsense?