They shared auditors with Fannie Mae until Bush asigned them a new one, ( Price Waterhouse Cooper ) who found their CEO, Franklin Raines had misreported BILLIONS so he could meet executive bonus targets.
Fannie and Freddie did a exponential amount of damage as compared to ENRON, including poisoning the Markets with toxic Securities years before private MBSs encroached on their market share.
By 2008 they held over 68% of all Low Quality, Sub-Prime, Alt-A, NINA and just generally crap loans, or Toxic MBSs backed by crap loans.
By 2004 they held over 70% of all CountryWides crap loans while Angelo Mozilo was giving sweetheart mortgage deals to the likes of Chris Dodd.
Hell in 2004 when their Regulator was warning Congress of their impending doom Democrats were sitting in front of Committee's chaired by Republicans swearing up and down the two mortgage giants were NOT in trouble.
Over 5 TRILLION in toxic debt, and your using ENRON as the generic Corparate boogie man. Lol..
Fannie and Freddie, run by corrupt Democrats with a mandate installed by Clintons 1995 Home Owners Stategy redefined Cronyism, Corruption and set the bar so High no private Corporation could ever touch their level of waste and fraud.
When you guys go all anti-corporate on us are you trying to tell us Government is a better option ?