Steve Forbes offers his take on the current financial crisis in this video clip, and the role of Fannie Mae and Freddie Mac within the meltdown. Forbes seems knowledgeable about the historical origins of the two pseudo-government organizations, but the Believability Meter catches him making up some figures when it comes to the overall value of Fannie and Freddie's mortgage loans, as well as their lobbying expenditures. The Believability Meter also doesn't buy Forbes' claim that Fannie Mae and Freddie Mac pushed subprime mortgage lenders to make bad loans. Although their enabling influence on the subprime market has been well documented, it's likely that Forbes is being called out by the Believability Meter in this video because he knows he is oversimplifying the issue. Doesn't it make you feel generous to know that the government uses tax dollars to provide affordable housing for people who would otherwise have to pay for it themselves?

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