https://hotair.com/ed-morrissey/2008/09/29/video-democrats-insist-nothing-wrong-at-fannie-mae-freddie-mac-in-2004/feedHotAir is the leading conservative blog for breaking news and commentary covering the Biden administration, politics, media, culture, and current elections.en-usThu, 09 Apr 2026 22:21:54 -0400<![CDATA[By 2004, all of the elements of the current financial collapse had been in place for several years.  The aggressive approach to enforcing the Community Reinvestment Act (CRA) started under Bill Clinton in 1998, and the seemingly endless appetite for paper by Fannie Mae and Freddie Mac had turned massive amounts of bad loans into mortgage-backed securities to spread their cancer throughout the system.  In 2004, a year after the Bush administration tried to tighten regulation and oversight on Fannie and Freddie, Congress was told yet again that disaster loomed.  The Democratic response is instructive to seeing who really sat back and allowed this collapse to occur (via Power Line):]]>Mon, 29 Sep 2008 09:50:35 -0400<![CDATA[Ed Morrissey]]>https://hotair.com/ed-morrissey/2008/09/29/video-democrats-insist-nothing-wrong-at-fannie-mae-freddie-mac-in-2004-n157620