Once Burned, Twice Burned

With $trillions of wealth destroyed in the mortgage crisis and the economic crash that followed, at least we've learned a few lessons that we won't soon forget. Then again, maybe not:

Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.

Representatives Barney Frank (D-MA) and Anthony Weiner (D-NY) denounced the standards as "too onerous."

Readers will recall that it was Democrats imposing lax standards at Fannie and Freddie in the name of "social justice" that caused this whole mess in the first place.