Here is a story from The New York Times of October 8 that discusses the situation at the FHA:
http://www.nytimes.com/2009/10/09/business/09fha.html?pagewanted=1&_r=2
What I found particularly interesting in this story was a quote from Barney Frank, the chairman of the House Financial Services Committee:
"I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling too fast. That’s a policy.”
My comment on the above quote:
??
SPX at 1085.74 as this post is written
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