Here's a story that has almost completely escaped scrutiny yet should make blood shoot from your eyes.
 
First some background.  In September 2008, federal regulators took over Fannie Mae and Freddie Mac in the name of stopping their risky mortgage practices, and in fact legislation was passed that set a limit to cover up to $200 billion in losses incurred by those government operated institutions.  (That's when $200 billion was considered real money).
 
But in March 2009, the Obama administration, along with its stimulus plan, increased the purchases of risky mortgages and forced Fannie Mae and Freddie Mac to run additional losses of tens of billions more to bailout deadbeat and sub-prime mortgage borrowers, and then tried to cover-up those losses by increasing the limit to $400 billion, thereby staying under the "financial crisis" radar. (Remember, this is all taxpayer money).
 
Now here's the virtually unreported bombshell.  On Christmas Eve, the day before the "Christmas Day bomber's" failed terrorist attempt where the assailant was Mirandized after only 50 minutes of perfunctory questioning by some still inexplicably unnamed Justice Department official who should be fired, and when it hoped no one would notice, the Obama administration lifted the $400 billion limit on bailouts for Fannie Mae and Freddie Mac, and reset the limit to - infinity.  They lifted the limit completely. Now there is no limit.  None!  Zero!  Zilch!
 
Fannie Mae and Freddie Mac can now assume losses in the Trillions and they'll be covered by the American taxpayers.  Is this d�j� vu all over again?  And since all of this was passed by the Democrats in Congress and made the law of the land, such losses would be perfectly legal.  And on top of that, the Obama administration granted Fannie Mae's and Freddie Mac's executives bonuses totaling over $42 million.  Is that unbelievable?  Where's Ken Feinberg (Obama's pay czar) when you need him?  What disgusting hypocrisy, for crying out loud.
 
As you'll recall, Fannie Mae and Freddie Mac played a primary role in spawning the mortgage crisis by acting as loan agents for the government, buying up risky mortgages that the government forced banks to make under the Community Reinvestment Act (CRA), and thus creating an artificial market for what otherwise would be worthless pieces of crap. Before that Fannie Mae and Freddie Mac also acted as agents for the Clinton administration that also required them to buy up lots of risky loans, again as part of the CRA.  During that time they paid their CEOs millions (Clinton supporters Franklin Raines and Jamie Garolick were paid $96 million and $36 million respectively) in the process, and were found to have committed accounting fraud; $6.3 billion at Fannie Mae alone in an effort to increase the size of their Democrat managers' bonuses.  These organizations are not much different than ACORN except that their ability to do irreparable damage to the fabric of the American economy is unquestioned.
 
Amazingly enough, banks will now be pressured to make even more risky, low-income loans, loans where welfare payments are actually counted as income. Obama is planning on creating the Consumer Financial Protection Agency, whose job will be enforcing the same CRA that required, by law, that banks provide loans to poor people and those with poor credit and was primarily responsible for todays' financial crisis. 
 
Are you getting this? This is completely insane. The next crisis will be even worse than the present crisis.
 
And all this happened while everyone was opening presents and drinking eggnog.
 
And that's all there is to it.