Dem Slush Fund Fannie Mae Ready to Tumble?

Mickey Kaus hat-tipped me to the Barron's site where Dem con-men [Jamie Gorelik is indeterminate gender-wise] James Johnson and Franklin Raines and Jamie Gorelik [rumored to be Hillary's main squeeze, er..., pick for AG if she slides past "investigators" in a Dem Judiciary process headed by another con named Leahy] are all given credit for mismanagement on a scale worthy of Teapot Dome:

Poole has long been skeptical — correctly it turns out — of Fannie and Freddie's ability to serve both God (their social mission of promoting liquidity and affordability) and Mammon (the shareholder and lush management compensation). At Fannie, a generation of Democratic Party insiders, such as James Johnson, Jamie Gorelik and Franklin Raines, made substantial fortunes in Fannie's executive suite. As Fannie Mae's top regulator, James Lockhart, pointed out in recent congressional testimony, the absence of debt-market discipline (the government guarantee makes Fannie and Freddie all but impervious to credit downgrades) makes pell-mell growth irresistible to shareholders and managers. Have a hunch, bet a bunch.

Johnson achieved a quadfecta of con-man feats of legerdemain, heading up Brookings and the Kennedy Center after mismanaging Target and the Mondale Presidential Campaign. My guess is that he, Jamie and Franklin would have trouble balancing a checkbook, let alone handling a monster-mishmash like Fannie Mae.

Gorelik, who managed to expedite 9/11 by crippling the FBI/CIA sleuthing capabilities, may be averted by Hillary's feckless campaign managing skills from another opportunity to cripple the USA on still another exercise in Dem incompetence at the highest levels.