Here we go again...

Here we go again...  Fannie and Freddie are going to start providing loans at 97% loan-to-value to high risk borrowers.  This is exactly what led to the popping of the last housing bubble, just a few years ago.  This is unbelievably irresponsible and stupid from every perspective except one: political.  CoyoteBlog has an excellent piece on this insanity, and Reason is on the case too.  Unfortunately, the politicians we've elected know that good news today is worth a lot more, politically, than bad news down the road...