In 2004, Republicans held an oversight hearing on Freddie Mae and Fannie Mac. They warned us about this crisis back then, but Barney Frank, Maxine Waters, and other Democrats charged racism. Franklin Raines, the disgraced thief Democrat CEO of Fannie Mae, insisted the loans were "riskless."
Washington Post says fraud was happening back in 2005.
Listen to the bonuses execs got from Fannie Mae, and then even President Clinton acknowledged there were problems. Watch and listen to Democrats paint this as a race issue, versus a financial issue!
2004 Video Montage: Democrats Defend Fannie/Freddie from Regulation
