NRO: Housing Reforms Built on Sand

Housing Reforms Built on Sand; National Review Online: 8 Sept 2008.

The last paragraph:

But Paulson and Lockhart have an obligation to do better. They are about to put billions of taxpayer dollars on the line in what is potentially the biggest bailout in U.S. history. If they preserve Fannie and Freddie’s flawed business model, they guarantee that the next bailout will be even bigger. The only foundation for real reform is one that puts these enterprises on the road to full privatization and frees the mortgage market from domination by these bloated behemoths.

Comment: Full privatization is the only way, anything else is socialism.

Big questions, where is Congress in all of this? Are we to assume that Dodd and Franks are working with Paulson in manner that is consistent with US Constitution, the States and citizenry; or foreign banks?