So Where Was Congress?

I don't have a PhD in economics, but even I could foresee the bubble bursting in what was once known as our last real estate boom.

Apparently there were a considerable number of lenders (even reputable ones like Fannie Mae and Freddy Mac) who were giving away mortgages to people who didn't even qualify to begin with. HELLO!!! HOW STUPID IS THAT?!?!?!

Meanwhile, as the real estate market was showing signs of unraveling - even to those of us who do not have PhD's in economics - where was our Congress?