I am not sure that your 'facts' are really facts!!!

> On top of my point, Fannie Mae and Freddie Mac may have been encouraged to lend to lower credit families, but the crisis would have happened even if they didn't exist because the other unregulated institutions went about it with much more gusto.

This is a big IF. It is not a fact! The fact is that F/F lowered their credit requirement so much that enables others to pursue the aggressive lending practice.

> Fannie and Freddie's subprime loans were shown to be on the more respectable end as opposed to the other banks who pushed their mortgage brokers to get loans no matter what the risk.

This is another myth but not fact.

> The only thing Fannie and Freddie really shows is that the government endorsed the practice, but the fat cats of Wall Street made Fannie and Freddie's bad loans look likes child's play.

Please update your information. Stop being brainwashed by media. The bailout for F/F will be 400b. It is a big mess larger than all the money to C, BAC, AIG, ... combined. http://sanantonio.bizjournals.com/sanantonio/stories/2009/02/16/daily26.html