How we got here …
An interesting video has emerged (apparently a forgotten clip from CSPAN2) that shows a subcommitee investigating possible illegal activities at Fannie Mae in 2004. It’s unbelievable but the Democrats are lambasting anyone who would call Fannie Mae and Freddie Mac financial procedures into question. The Republicans were repeatedly demanding more accountability and regulation while Frank Raines (Obama’s Principle Economic Advisor) declares mortgage loans as “Riskless”.
The topper is Barney Frank; (D-Mass) the current Democrat spokeman on the $700 Million Dollar Package defending Fannie Mae and Freddie Mac and insisting that even discussing enhancing the regulation of these institutions was somehow a travesty of justice.












