I think that's the real reason. The MSM instantly and deliberately paints any criticism of any program intended to benefit any minority group, no matter how tangentially, as a racist statement.
One may not criticize welfare capitalism in the MSM's presence - it's the holiest of sacred cows. That concept is what they are really in the tank for, rather than support of either political party - it's just that the Dems strongly support it, too so there is a natural affinity.
McCain probably figures he can't win that one, especially since although the CRA may have been a catalyst for the problem, it was the banks who took it twenty steps too far by greatly expanding securitization of mortgages and relaxing lending standards to near zero.
The Democratic Party's use of Fannie Mae as its Golden Parachute Retirement Home for loyal political cronies should, however, be talked about - loudly.
The MSM will defeat McCain on the Fannie Freddie facts.
Just as they defeated President Bush on Iraq, and a million other issues.
The MSM/DNC/Hollywood/Academia war room is TOO POWERFUL TO DEFEAT.
Our only chance is hoping that enough Americans do not trust Hussein.