Fannie Mae/Freddie Mac bailout - A brewing scandal?

Dick Armey on why the housing bailout bill is a complete fraud, as well as the attached opening of the federal checkbook to support Freddie and Fannie, two institutions that suffered from Enron-style accounting for years to pad bonuses for major execs like Jamie Gorelick, abuses for which no one has yet to be punished, much less indicted or even reprimanded. Republicans should take this opening and run with it, but they are not organized or inspired enough to put up much of a fight, and President Bush is more concerned about his "legacy" to voters that will never vote for him again to actually stand up to this monstrous, and incredibly expensive (estimated at upwards of $1 trillion), bill to bail out "scam artists and speculative lenders at the expense of American taxpayers." Democrats have many ties to the mortgage industry, and here they are bailing out their buddies, but Armey makes the great point that Republicans will continue to be the ones seen as the friends of "big business", especially if they fail to act against this bill, while Democrats will be seen as the ones helping ordinary Americans (who weren't smart enough to read the fine print). Of course, Bush will get no credit from those on the left, while creating further mistrust with his supposed "allies" on the right for signing yet another massive spending bill that runs contrary to traditional conservative principles.