The trend is to leave all fingers pointed to Fannie Mae and Freddie Mac, the two government sponsored companies who repurchase and are in control of nearly 90% of the mortgages in our country. In essence, they are the driving forces behind mortgage lending in this county. However, to blame mortgage repurchasers is a very superficial approach, and shows a very superficial understanding of the economic factors influencing lending and banking. Here’s the true story of the market collapse. The tale starts in September, 2001, focusing on the actions of the less-than-capitalist aspect of our supposedly capitalist economy.