FANNIE AND FREDDIE WERE AMONG THE VICTIMS!!!

They weren't the perps behind the Housing Bubble.  You may recall that the banksters used their due diligence investigations to bargain for cheaper prices instead of walking away from obviously bad loans and bad loan pools.  John Mauldin at Clusterstock lets us know that the banksters took these bad pools and falsely claimed to investors, INCLUDING Fannie and Freddie, that the pools were just fine:

They [Fannie & Freddie] were sold well over $227 billion of the subprime garbage issued in 2006 and 2007. And the bad stuff started before then.