WATCH THIS VIDEO! This is a collection of clips from a congressional hearing in 2004 in which regulators brought to light the mismanagement going on in Fannie Mae and Freddie Mac. These regulators along with several Republicans attempted to impose tighter restrictions and more oversight on these two agencies, only to be thwarted by Democrats like Barney Frank and Maxine Waters. When you hear Franklin Raines declare these subprime mortgages "riskless", Waters congratulating him for the "fine job" he was doing, and Frank assuring everyone that nothing was wrong with the way the agencies were functioning it should become crystal clear who is responsible for the mess that exists today.
YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis