An honest administration would prosecute trio

Democrat congresspersons passed legislation requiring lenders to make loans to unqualified minorities under threat of criminal prosecution; and Freddy and Fannie knowingly bought these toxic loans.

Frank Raines, the black CEO of Fannie Mae, changed the rules of his personal compensation to be based upon total volume of loans purchased with no regard to the profitability or quality of the loans.

As Fannie Mae approached bankruptcy, Raines walked away with $90 million in his pocket and became a financial adviser to the Obama campaign.

When people in the Bush Administration attempted to institute some regulatory control over Freddie and Fannie, Dodd in the Senate and Barney Franks in the House prohibited such efforts.

An honest Attorney General would be preparing prosecution papers against Raines, Dodd and Franks.

And an honest President wouldn’t be blaming the Bush Administration for the collapse of the financial system.

BRUCE JOHNSON

Sandpoint