http://www.google.com/url?sa=t&source=web&cd=2&sqi=2&ved=0CB4QFjAB&url=http://www.washingtonpost.com/wp-dyn/content/article/2008/09/13/AR2008091302638.html&ei=ZgSWTdixNYG-tgf9ncTtCw&usg=AFQjCNHaSt3DScYB_KJUjTnYsKrLrXScwQ
notice the first paragraph
fannie and frieddie expanded under clinton
Rep. tried to slow it down
dems under frank blocked it
A WASHINGTON POST ARTICLE
http://www.google.com/url?sa=t&source=web&cd=1&sqi=2&ved=0CBcQFjAA&url=http://amerpundit.com/2008/09/16/democrats-blocked-additional-oversight-of-fannie-freddie/&ei=ZgSWTdixNYG-tgf9ncTtCw&usg=AFQjCNFddC0ynM34R2SPxT39rzdyM7Ifrw
this link points to a NY TIMES article that also talks of Dems blocking fannie and freddie reform.
It's farily common knowledge that fannie and freddie were growing problems, reps tried to reign it in and dems fought it. The dems were trying to social engineer the governmnet into providing homes for all. Including those that could not afford them, which led to economic catastrophe. Heard the report on housing lately? It's still a mess.
Social engineering to provide home ownership for all has cost many their homes
Every step the government now takes to interfere with the free market is just making things worse. Things will improve once the market corrects. A perfect example, there has been talk of eliminating the home mortgage deduction by Dems? This is an incentive to buy homes, the morons! Just that statement further declines home sales. The time to consider eliminating the mortgage deduction is when there is a housing bubble to slow it down!