Liberals voted against reforming Fannie/Freddie, again!
In case you have not heard, Eric Cantor and his Whip staff designed an interesting concept called YouCut . You log in and then cast votes on what you want to cut from the Federal budget. Each week several options are presented. Descriptions are provided and the estimated savings amount is presented. While some of the issues are minor and have no apparent effect on the 13.7 Trillion dollar deficit, some issues carry a moral message. For instance in one week, Republicans proposed to freeze pay of all federal salaries. Will this save a ton of money? Probably not, but it is an outreach by our representatives and a symbolic gesture that we are going through the financial crisis together. In the third week, a far more fascinating and potentially fiscally instrumental change was proposed. The possibility to reform Fannie/Freddie and stem the bleeding. Ideally we would see the completely dissolution of these organizations and all the bad debt exposed on the market, but beggars ca