Fannie Mae and Freddie Mac Dem's Fault?

NY TIMES SEPT 2003: BUSH PROPOSED TIGHTENING OVERSIGHT OF FANNIE MAE AND FREDDIE MAC - THE DEMOCRATS OF CONGRESS BLOCKED IT

September 18, 2008

New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.