2004 hearing in which Congressmen defend the Fannie Mae Delusion

My typical feelings about regulators aside, Fannie and Freddie’s status as GSE’s warranted massive oversight and regulation that I would never wish on a legitimate private company (my investment with a private company is voluntary, and it’s my responsibility to manage that risk - my involvement with GSE’s like Fannie Mae is far from voluntary).

How ironic to watch the same party that today blames the failure of Wall Street on a lack of regulation, fight so strongly against those who would hold Fannie and Freddie accountable to existing regulations.