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2004 Video: Democrats Defend Fannie/Freddie from Regulation: "We've been through nearly a dozen hearings where frankly we were trying to fix something that wasn't broke. Mr. Chairman we do not have a crisis at Freddie Mac and in particular at Fannie Mae under the outstanding leadership of Mr. Frank Raines."-Rep. Maxine Waters, 2004http://www.youtube.com/watch?v=YL36nwCSYUM

Democrats Defend Fannie/Freddie from Regulation - 2004 Video Rep. Maxine Waters, 2004: "We’ve been through nearly a dozen hearings where frankly we were trying to fix something that wasn’t broke. Mr. Chairman we do not have a crisis at Freddie Mac and in particular at Fannie Mae under the outstanding leadership of Mr. Frank Raines."http://www.youtube.com/watch?v=YL36nwCSYUM

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis in 2004. Republicans try to regulate fannie mae and freddie mac without success.

Time to call some elected officials and Media Outlets~! Franklin Raines, DEMOCRAT CEO of Fannie Mae just walked resigned after only 5 years, under abhorrent & scandalous "accounting discrepancies" i.e. missing 9 billion dollars. His reward for such corruption will be $100,000 per month for life. This salary of corse, will be paid by the American tax payer.... As is always the case, a CRIMINAL DEMOCRAT loses billions & walks away with millions. Meanwhile, the LAME STREAM MEDIA either ignores or hides yet another horrific DEMOCRAT SCANDAL....what ever happened to SANDY BERGER?? Or RATHERGATE? It gest old! WHY DO WE...

a blistering report by the Office of Federal Housing Enterprise Oversight, which was made public in September, cast doubt on Fannie Mae's past earnings reports and even its financial soundness. OFHEO, the government agency that regulates Fannie Mae, raised the possibility that the company had employed deliberate accounting maneuvers designed to meet earnings targets and thereby bring bigger bonuses to top executives.

NEW YORK (Reuters) - The Justice Department has opened an investigation of possible accounting fraud at Fannie Mae, the Wall Street Journal reported on Thursday, after a federal regulator said the mortgage giant may have manipulated its earnings targets. The Journal reported that the investigation is still in the preliminary stages. Fannie has been under fire since the Office of Federal Housing Enterprise Oversight, or Ofheo, accused the company of improper accounting that allowed senior executives to pocket multimillion-dollar bonuses. According to the newspaper, officials have said that some Fannie Mae executives may have misled regulators, which in some cases...

Heads up - Fannie Mae CEO Frank Raines and CFO Tim Howard are testifying before the House Financial Services Committee NOW. Click on the link above to watch. This has been a very entertaining hearing. Rep. Richard Baker, who chairs the Subcommittee on Capital Markets, announced at the beginning of the hearing that Fannie Mae had threatened to sue him personally last year to prevent him from releasing confidential Fannie Mae executive compensation data. Baker said he decided not to release it at the time, but will do so today after the hearing. That should be interesting. Raines is a...