More Housing Bad News Coming

There are alot of us who think the current economic crisis was spawned by three things:
1 - Out of Control Government spending made into an art form by the Obama Administration, especially on social programs.
2 - Democratic taxing policies that hinder small business which are the backbone of this country and the economy.
3 - Fannie and Freddie Housing losses fostered by Barney Frank and Chris Dodd's protection of Fannie and Freddie and the mandate to cover mortgages for people without an ability to pay. Here's more from that Idiot Chris Dodd:

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, "passage of such a requirement would restrict home ownership to only those who can afford it."