The Bush Administration thought it was a good idea to regulate Fannie Mae and Freddie Mac in 2003....
"The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates."
What do you think about it Congressman Fwank?
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
http://www.nytimes.com/2003/09/11/b...ed-to-oversee-freddie-mac-and-fannie-mae.html
Why do Democrats hate regulation?