Oversight for Fannie and Freddie falls on OFHEO headed by Bush appointee James Lockhart. His backgound includes heading a risk management software firm that sold its products to banks, insurance companies, S&L’s, etc. You know, all the folks that are now needing to get bailed out. He also worked in the oil business. One big, happy family that W put together.
When you hear the phrase “deer in the headlights” you only need to watch a replay of Bush last night to understand its meaning.
