Under Study

Dr Peter Venkman: "Ray, pretend for a moment that I don't know anything about metallurgy, engineering, or physics, and just tell me what the hell is going on."
Dr Ray Stantz: "You never studied."
--Ghostbusters

So Barney Frank & Co are urging Fannie (FNM) and Freddie (FRE) to loosen lending requirements. Should this occur, then another key factor (in addition to cheap credit supply from the Fed) that drove the previous wave of this credit crisis would be back in play.

It's hard for me to conclude that this means that our congressfolk haven't learned. It's easier for me to conclude that this suggests that our congressfolk hope that we haven't learned.

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