Franklin Raines

In the excerpts from hearings to investigate Fannie Mae and Freddie Mac's illegal bookkeeping, Rep Richard Baker (R-LA) says "It is indeed a very troubling report, but it is a report of extraordinary importance not only to those who wish to own a home but to the taxpayers of this country who would pay the cost of a clean-up of an enterprise failure. The analysis makes clear that more resources must be brought to bear to ensure the high standards of conduct are not only required, but more importantly, they are actually met."

Rep Maxine Waters (D-CA): "Through nearly a dozen hearings where, frankly, we were trying to fix something that wasn't broke..." [no pun intended there, I'm quite sure]

This is a long video, but well worth the effort. It clearly indicates Republicans attempting to oversee and obtain accountability for Fannie Mae and Freddie Mac, with complete resistance on the part of Democrats. One of the most chilling scenes involves the praise heaped upon the now completely discredited (and sacked) Obama campaign advisor and former Fannie Mae CEO Franklin Raines. When questioned as to why Fannie Mae's capital had fallen below the absolute minum level of 5%, Franklin Raines said "These investments are so riskless that the capital for holding them should be under 2%".

Note: there are already 800 comments on YouTube for this video. As of this post, it's only been up for two days.