The fact that the Treasury could have put American taxpayers on the hook to cover Freddie Mac's first quarter losses should come as no surprise to the White House and Congress, which have abrogated their responsibilities by allowing Fannie Mae and Freddie Mac to remain in conservatorship for the past eight years. "Policymakers on the extreme left and right of the political spectrum have allied in a voting bloc of stubborn inaction. Their delay is adding more uncertainty to the housing market, discouraging private investment in financial markets, making it more difficult for creditworthy borrowers to obtain home loans and impeding the housing and economic recovery. "Decisive action needs to be taken now to overhaul our nation's housing finance system.