Many economists link the 2006-2008 mortgage crisis, the housing market slump and the Great Recession of 2009 to Fannie Mae and Freddie Mac lending practices that started in the mid 2000s. Others linked the crisis to inadequate oversight by federal banking regulators of the banking industry and the bundling of home loans into mortgage backed securities. And, still others attempted to connect this crisis to federal legislation passed under the Carter, Clinton and Bush Administrations that aggressively promoted low income loans. In the immediate aftermath of the mortgage collapse, there was an increased level of political debate in the halls of Congress and on mainstream broadcast television and cable news networks that Fannie and Freddie should be abolished and that the private sector should be responsible for all housing loans; that is not nor should not be the role of the federal government to support the housing industry. Now, more than 10 years after the collapse of the mortgage market, the housing market appears to be in full rebound mode, due in part, to reforms instituted during the 2006-2008 time frame. What is your opinion: was the talk of abolishing Fannie and Freddie premature? political posturing? Or the catalyst for the reforms that were put in place? Justify your comments.