When the news broke about the nationalization of Fannie and Freddie Friday night, I wondered how this might affect the national debt total. Today we’re starting to get an inkling.The Congressional Budget Office has declared that if the Treasury is going to assume responsibility for Fannie (FNM) and Freddie (FRE), it will have to take them onto its books.

Freddie Mac (NYSE:FRE) chief Richard Syron is in the media spotlight for failing to heed warnings about risky loans at the mortgage lender.

But The Daily Reckoning’s Dave Gonigam says he’s getting a bum rap.

Syron was just doing the job that Congress wanted him to. He w fulfilling G.W.’s “ownership society,” regardless of whether homeowners could afford a roof over their head or not.

People looking for someone to blame for this mess should start at the very top…