Interesting little dust-up between the New York Times and Freddie Mac. The executive summary:
NYT reporter alleges Freddie Mac CEO Syron was warned, ignored these warnings and should have known about looming problems with riskier loans in their portfolio.
Freddie responds, stating that at best, this is revisionist history, sloppy reporting, and utter bunk.
This may seem like inside baseball to many, but it would be a mistake to ignore this. Legislators are already wielding the housing correction like a cudgel (which can be good, so long as they are crushing the right skulls) so it will pay to understand the facts in the rush to assign blame somewhere.