Here is a video from 2004, which shows Congressman Barney Frank, (D. Mass) Congresswoman Maxine Waters, (D. Cal.); Congressman Lacey Clay, (D. Mo.); Congressman Arthur Davis (D. Ala), Congressman Gregory Meeks, (D. N.Y.) as well as other Democrats vehemently denying that there were any problem with Fannie Mae or Freddie Mac in 2004. That Senator Obama's presidential campaign economic advisor, and former Fannie Mae CEO Franklin Raines was doing, "An outstanding job"; and that the regulators were the ones that were creating the problem:
http://www.youtube.com/watch?v=bPoksfSf2nA
One more time:
Finally, there is really no dispute. Former President Clinton said on September 26, 2008:
"I think the responsibility that the Democrats have, may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac."
http://www.youtube.com/watch?v=hfGWxqsKFmY
Just to refresh memories as to who caused the economic downfall:
The Bush Administration called for Fannie Mae and Freddie Mac reforms repeatedly, all to fall upon deaf ears by the Democrats.
"Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings"
(Gateway Pundit (original Link) Deceased; 02.29.2012)
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