Way to go Barnie and Chuckie

Beginning in 2001 the newly inaugurated President Bush and his administration began warning about problems with Fannie and Freddie.

In the 2002 budget request to Congress the problems with these institutions were noted and warnings issued.

In 2003 the administration was calling them systemic, and Treasury Secretary Snow pushed Congress to regulate them more. Massachusetts Barnie's response was, we are not in a crisis, we should be encouraging more [unqualified] poor families into buying homes.

In 2005 Fed. Chairman Greenspan said that problems with these institutions was putting the future financial system at risk. New York Chuckie defended Fannie and Freddie and said there was not a problem.

In 2006 John McCain introduced legislation to regulate these entities, and while it passed in Committee (all Republicans for, all Democrats against), it was not brought to the floor. Meanwhile, the Democrat friends heading these agencies are pulling down huge salaries and bonuses.

Today, of course, Democrats, in particular Pelosi, Reid, Frank and Schumer, blame Bush, Snow, Greenspan and everybody but themselves, taking no responsibility at all, in some of the boldest demagoguery in Congressional history.

Eventually, however, the political chickens will come home to roost. 2010 here we come!!!

See Fox News summary of this history from September 2008