Washington, Oct 1 - The sad reality of the day is that the media simply does not care about the truth of what’s caused our current mortgage market meltdown and the resulting Bailout fiasco.

There has now come to light overwhelming, damning evidence that Fannie Mae and Freddie Mac are together the primary cause of the current mortgage crisis.  

Worse is that it was totally avoidable:  it is an undeniable fact that Republican Members of Congress for several years have sounded the alarms and pushed regulatory legislation to reign in these “low-income mortgage” titans – and senior House and Senate Democrats have fought these efforts every step of the way.  Democrats are willing to do whatever it takes to protect the Fannie Mae Piggy Bank to further their political left-wing objectives, even to the detriment of our economy and the U.S. taxpayer.

Furthermore, examples of gross negligence and mismanagement at both Fannie and Freddie are abundant, and the mainstream media simply refuses to report it.

Consider this: When the Enron scandal broke and it was learned that Ken Lay and other Enron executives had connections with certain Republicans, the media was all over the story for six months straight.  In financial terms, the Enron scandal is 1/20 the scale of the Fannie/Freddie mortgage meltdown, yet hardly a whisper from the media on the GSEs corruption and Democrats’ complicity.

Investor’s Business Daily Article:  Should Congress Be “Perp-Walked”?  This article makes a clear case for an aggressive investigation into Freddie and Fannie, and their strongest Hill supporters, Rep. Barney Frank and Sen. Chris Dodd.